I may be overlooking something, but the Alaska geographic transformations do not seem to be working in ArcGIS 10.4.
In going from NAD27 to NAD83, I'm using the transformation:
 NAD_27_To_NAD_1983_Alaska
When I open an mxd project in ArcGIS 10.2, the NAD27 polygons are projected on the fly correctly to their corresponding NAD83 positions.
When I open the same mxd project in ArcGIS 10.4, the NAD27 polygons are projected on the fly incorrectly.
In ArcGIS 10.4, the NAD27 polygons appear to be projected on the fly by using the NADCON (lower 48) transformation instead of the 'NAD_27_To_NAD_1983_Alaska' transformation that is set in the project.