Aqua Data Studio 15.0.0-dev-334
  Database Version: MySQL 5.7

Precondition :
Go to File options in ADS menubar
Select Options option
Uncheck General > ';' Statement separator option
Uncheck Scripts > MySQL > ';' Statement separator option
Click on OK button

1. Create Database

CREATE DATABASE `sample`
 DEFAULT CHARACTER SET latin1
 DEFAULT COLLATE latin1_swedish_ci
GO

2. Create Table

CREATE TABLE `messages`  (
 `id`     int(11) UNSIGNED ZEROFILL AUTO_INCREMENT COMMENT 'ID COLUMN'  NOT NULL,
 `message` varchar(255) COMMENT 'MESSAGE COLUMN'  NOT NULL DEFAULT 'NULL',
 `time`   timestamp COMMENT 'TIMESTAMP'  NULL,
 PRIMARY KEY(`id`)
)

3.Open Query Analyzer and execute below script:

CREATE PROCEDURE `sample`.`proc_insertion` (IN W_IN INT)
BEGIN
IF W_IN >= 0 THEN
    INSERT INTO `sample`.`messages`(`message`)
    VALUES('Procedure proc_insertion executed successfully');
END IF;
END
GO

CREATE FUNCTION `sample`.`print`()
  RETURNS TEXT
  LANGUAGE SQL
BEGIN
  RETURN 'Function Executed Successfully';
END
GO

2. Follow below steps to reproduce bug:

Go to Schema Browser
Expand MySQL Server node
Expand Databases node
Expand sample Database
Open View Log

Scenario 1 :

Expand Procedure node
Right click on proc_insertion
Select Alter option

Actual result: In Alter procedure window Create Procudure script is displayed.

Scenario 2:

Expand Procedure node
Right click on proc_insertion
Select Alter option
Try too edit the Procedure characteristics.

Actual Result: We are unable to alter the procedure characteristics.

Note: Same issue is producible for Function

Reference link:
http://dev.mysql.com/doc/refman/5.1/en/alter-procedure.html
http://dev.mysql.com/doc/refman/5.1/en/alter-function.html