Great question! This will serve as a good case study highlighting the difference between OTU picking and taxonomy assignment.
Just like you described, all the new clean up OTUs were picked de novo because they are >3% different from anything in greengenes. When taxonomy assignment happens, the top three hits over 90% are recorded. So maybe you get three hits like this:
hit 93.1% k__Bacteria; p__Firmicutes; c__Bacilli; o__Lactobacillales; f__Lactobacillaceae; g__Lactobacillus; s__reuteri
hit 90.9% k__Bacteria; p__Firmicutes; c__Bacilli; o__Lactobacillales; f__Lactobacillaceae; g__Lactobacillus; s__reuteri
hit 91.9% k__Bacteria; p__Firmicutes; c__Bacilli; o__Lactobacillales; f__Lactobacillaceae; g__Lactobacillus; s__reuteri
So none of these are over 97%, but they all happen to agree down to the species level. Looks like some pretty different OTUs are all in the s__reuteri, so the LCA algorithm concludes that your equally different OTU could be part of this species too!
(I did a quick 'grep' search on the greengenes taxonomy, and found 19(!) OTUs with the 'reuteri' as the species. The example I gave is very possible with 19 members in the reference.)
You can extract this OTU centroid from your rep_set.fna file, and try manually blasting in on NCBI and see what you get.
This might be a good time for me to mention that I have a pretty dim view of taxonomy assignment. I view microbe names like the points on "whose line is it anyway" and caution my traditional microbiologists to view amplicon taxonomy as a reasonable guess, not ground truth. Robert Edgar is also pretty critical of taxonomy, and has been working on the UTAX algorythm to improve things:
http://www.drive5.com/usearch/manual/tax_bench.html
Keep in touch!
Colin