I think its an rdesktop bug related to pointer shadowing. Try to disable "pointer shadow" at control panel/mouse for a temp. solution. I have not observed this problem w/ freerdp or mstsc
Date: Thu, 26 Jun 2014 20:17:19 -0500
Subject: Re: [rdesktop-users] 1.8.2 - No Cursor w/ Windows Server 2012 R2
FWIW, I experienced this behavior intermittently last week on Windows 8.1 to Server 2012R2 using the windows built-in mstsc.exe. I.e. It may not be a rdesktop issue.