VegasWade: I see this happen waaaayyy too much. This is not normal
You missed that because you hit it too hard. Paul's blow up picture is a perfect look. I don't know if you noticed it or not but when you turned Tour Pro recently, the basic default speed of the greens changed for you. You're now putting on greens that are faster than what you're used to.
That lip out is very typical of what happens when you putt too hard-the side doors of the cup shut. Had you hit that a tad slower, the side door would have been open and the putt would have fallen in.
Time to learn the new green speed. GL. :-)