I ran into it constantly. What seemed to work for me some of the time was running on the main toon and killing a mob, looting it normally, then going back to the object I needed to loot.

This a game-wide bug I noticed just today, not just Pandaria - happened in the BE starting zone.

PS: Getting stuck in loot position has been a intermittent bug since beta. I mean vanilla beta. I don't know the details of what causes it but it pops up occasionally and is exceptionally annoying.