As mentioned a few times, the true north ist displayed 90° off the magnetic north since firmware 12.85 or something. The problem persists with 13.20.
To my understanding, true north can only be displayed, if the watch knows where I am (or at least was recently). The 90° difference makes no sense in my area, I'm not that close to the pole. ;)
A one-shot GPS acquisition didn't help.
I still believe this is a bug.