I've just drawn a simple symbol and saved it as a block (a rectangular looking symbol).
Inserting the block into the drawing (model space) is fine. However, when selecting the symbol in model space, the object handle (the little blue rectangle that appears when you select an object) appears quite some distance from the centre of the symbol.
No doubt, I've stuffed something up with my co-ordinate system.
How do I reset the orientation of the symbol (within block editor) such that when inserted into the drawing, the object handle is centred on the symbol, not floating about somewhere.
Your block was created away from the origin, and no base point was selected, so it defaulted to the origin. In the block editor, select all and invoke the MOVE command. Pick your desired point as the new base point, and move this to the origin (0,0,0). In the future when creating a block, be sure to either design the block around the origin, or to specify a base point when using the BLOCK command.
I deal with blocks that have useless insertion points all the time. A while ago I found this LISP routine to move the insertion point of blocks; it works really great and it's another way to save you headaches: