As per the below CL, expecting the behavior might be intended,
https://chromium.googlesource.com/chromium/src/+/5207594d819ad2d27561b2c4c77841a47da12eae

@spqchan -- Could you please confirm and update the issue.
Thank You.

Unable to reproduce in 55.0.2868.0.

With response to comment #3,

Able to reproduce issue in latest canary build 55.0.2868.3.

Expected Result : On right clicking bookmarked icon grey focus should stay.
Actual Result : On mouse hovering bookmarked icon grey focus is seen but on right click it disappears.

Please review the attached screen cast.

Deleted: Canary_behaviour.mov 2.1 MB

Canary_behaviour.mov 2.1 MB Download

Unable to reproduce in 55.0.2869.0.

How are you "right clicking" on the bookmark (what are your exact steps)?

With response to comment #5
Able to reproduce above issue on latest canary 55.0.2872.0.

To reproduce the issue please perform the following  steps : 
1. Open NTP and bookmark that page ('New Tab' icon is seen in bookmarks bar)
2. Now right click on 'New Tab' bookmark icon in bookmarks bar using mouse.
3. Observe the 'New Tab' bookmark icon on right click.

Please review the screen cast given in comment#4 

Unable to reproduce in 55.0.2873.0.

How exactly are you right-clicking on the bookmark item? E.g. Windows machines have two-button mice, so the right button is the right click. Mac mice do not have two buttons, and there are a couple different ways to create a right click.

With response to comment #5
Able to reproduce above issue on latest canary 55.0.2875.0

I'm using a Mac mini machine version 10.10.5 and an external mouse. For right click i am clicking on right button of an external mouse. Please try to reproduce above issue using external mouse.

The external mouse is, or is not, an Apple mouse?

@shrike : The external mouse I'm using is not an Apple mouse. I am using Dell mouse.

Correction in Narrow Bisect,

Good build: 54.0.2836.0
Bad build: 54.0.2837.0

Narrow Bisect info:
https://chromium.googlesource.com/chromium/src/+log/06ed71dfa04dd2cd44a4802630ddf192312ea61a..83db57815bc84d57d03aa2b2d99d14c00426454f?pretty=fuller&n=10000

Suspecting : r413593 from narrow bisect

Thank you for the info about the mouse you're using. The code path for invoking a contextual menu through a physical right-click is different than via a Control-click. I have identified the problem.

Actually, I now see that this problem also occurs with a Control-click. I think I had been confused on the steps to reproduce before.

The following revision refers to this bug:
  https://chromium.googlesource.com/chromium/src.git/+/f581fedebe6bc34efcaf24d2d9f45120e98e3134

commit f581fedebe6bc34efcaf24d2d9f45120e98e3134
Author: shrike <shrike@chromium.org>
Date: Fri Oct 14 22:45:28 2016

[Mac] Ensure bookmark items are highlighted when invoking a context menu

Context menus run in a modal loop, so Control-clicking a bookmark item
while a contextual menu is already visible prevents animating the
item's highlight. The result was an unhighlighted bookmark item
displaying a contextual menu. This cl forces an immediate highlight of
the item so that no animation is involved.

This cl also moves code from rightMouseClicked: to the NSView methods
that are called right before and after a contextual menu appears. The
original idea of overridding rightMouseClicked: was to ensure correct
hightlighting before and after the contextual menu, but this method
is not called when you Control-click an item, only when you right
click using a mouse with a physical right mouse button.

R=avi@chromium.org
BUG= 649256 

Review-Url: https://codereview.chromium.org/2418893004
Cr-Commit-Position: refs/heads/master@{#425499}

[modify] https://crrev.com/f581fedebe6bc34efcaf24d2d9f45120e98e3134/chrome/browser/ui/cocoa/bookmarks/bookmark_button.mm