When firing arrows it doesn't always fire the arrow you would expect. After some experimentation I've narrowed it down a little. Place 2 or 3 sets of arrows in the arrow slots. Remove the first slot and select the second slot as your arrow of choice (it might do this automatically). Place a new set of arrows in the first slot and select them(with the mouse, I never used the shortcut keys). Now when you fire it will do the firing visual of the first arrow, it will use them up as you'd expect, but it will do the damage type and impact visual of the second slots arrows. Thus I was planning on firing poison arrows, and although they looked green in midair, they hit and exploded and did fire damage becuase I had explosive arrows in my second slot. They only hit one enemy though unlike real explosive arrows.
Patch 1.42 BTW