**Blender Version**
Broken: current master, e53c00a2
Setting the texture coordinates to "Generated" (ORCO) in the texture properties panel, will not use the original coordinates, but (apparently) coordinates normalized to the bounding box of the object.
This can be seen in {F93909}, where both squares have the same (local) vertex coordinates, but "Plane.001" has an additional triangle, extending its bounding box. This results in both squares being mapped differently, although they have the same coordinates.
Suggestions: Change the documentation of the "Generated" setting from "Use the original undeformed coordinates of object" to something like "Use the bounding box coordinates of object.". Additionally, add an option called "Local" with the former description "Use the original undeformed coordinates of object", which doesn't uses the local coordinates of the object.