Second image of what occurs when trying to browse through records:
You are in list view. Try changing to Form View and see if that's the behavior that you were expecting.
The fields seem to lose their formatting (disappear) because the "delineate..." option is specified for your layout in Layout Setup... With this option specified, field formatting is only applied to the current record--and the current record doesn't change in List view when you click or scroll to a different record. The current record does change when you do this in Form View so you would not have noticed this behavior if you had only used Form View in the past.
Thanks Phil, working as expected now - much appreciated!