I ran into this, and observed different behavior using Arduino 1.6.x vs 1.0.5.
I found that 1.6.x compiler has more aggressive optimization directives, generating binary with an "rjmp" between sleep_bod_disable() and sei(), causing Brown Out Detector to not turn off (too many clock cycles, see datasheet page 45). BOD uses about 20 uA.
My fix was to add a compiler directive
__attribute__((optimize("-O1"))) to the function declarations in LowPower.h to force a lower optimization level. Sleep power consumption then worked as expected, 4uA.
Mods to LowPower.h
void powerDown(period_t period, adc_t adc, bod_t bod) __attribute__((optimize("-O1")));
void powerSave(period_t period, adc_t adc, bod_t bod, timer2_t timer2) __attribute__((optimize("-O1")));
void powerStandby(period_t period, adc_t adc, bod_t bod) __attribute__((optimize("-O1")));
void powerExtStandby(period_t period, adc_t adc, bod_t bod, timer2_t timer2) __attribute__((optimize("-O1")));