when the view is actually compiled, the wild card is expanded to the list of actual column names in the compiled version of the view;that's to avoid dynamically having to check the view definition is valid each time it is called.

that's what you are seeing.

if you modify an underlying table used by the view, there's a built in function you can call to help with that;

exec sp_refreshview viewname

for views that do SELECT *, it will expand column names again and recompile it.