When you have "no_shipping=1" set you aren't requiring a shipping address for the transaction so that is why the address doesn't appear during the checkout process and in the transaction details.
I changed it to both "2" and "0" but the address didn't appear after I logged into a test account - like it should. If I switch the button type to be "_xclick" with "no_shipping=2" the address does appear correctly.
I'll file a ticket with the engineers to get this resolved for Subscription buttons.