there is an ugly ~10px wide black stripe around Applications menu and panel right mouse button menu
Strangely, the line (stripe) is only around top level applications menu, not around
submenus. The submenus lacks the proper 1px thick border, though. For panel rmb menu,
the thick black line is both around context menu and its submenu.
I would not say so. The bug is still there. I just retested and it triggers after the following set of steps
Turn on display compositing (Settings/Window Manager Tweaks/Compositor/check Enable display compositing)
Log out of Xfce - I use startx to start the X server, so logging out shut downs the X server
Start Xfce again - startx in my case (which starts startxfce4 --with-ck-launch)
Turn off display compositing (uncheck Enable display compositing)
Click on "Applications" menu - the menu will appear with a thick black line around it.
Upon another restart of X, the black line around the menu goes away. So this is admittedly a rather minor bug (you encounter it only during the X session which started with enabled display compositing and during which the compositing was switched off).
Marking this attachment as obsolete, since the panel menus are now always ok. I am unable to trigger the bug for them. But the Applications menu still can have the thick black line around, under the conditions described above.
It shows as black above because you turned the compositor off after the client was started. First and foremost, please don't do that, clients such as gtk applications cannot deal with the compositor being turned off and will shows a black area instead of the transparency expected.
That said, the black area you show above in your screenshot is part of the client, some of it is used for resize handles, the rest is shadows.
The shadows are excluded from the input mask, meaning that events will get though, but obviously the resize part needs to reach the client window and will prevent the event from reaching what's underneath.