I think it's normal.
What I think you saw occur was your 78 was up in the air on one side and when you let her down the rear tire set down closer to the differential than it would under normal (driving) conditions.
Because of the half shafts and trailing arm, there can be some movement from side to side and with the wheel hanging from those components it will naturally want to just be at the place of least resistance, so when it is first set down the wheel won't be in its' usual place.
You noticed after the first drive that it returned to normal. Once the vehicle has been driven a short ways, or rolled forward/back, the wheel finds its natural place once again.
I believe if the entire vehicle or rear end is lifted without wheel support, both rear tires will set down closer to the diff and it may look like it has air shocks until it is moved or driven.
Just something that happens with the independant rear suspension.
Heidi