|Presents in the present?|
Both meanings of the word are relevant and poignant. Usage depends on context. Intent matters. These are the seemingly silly conflicts we wage with the English language in order to make sense of what we are trying to say and write. For instance, it allows me to write, with a straight face, this zinger of a line: I present you this present in the present with present company that was pre-sent to be prescient.
Don't worry - you won't find this line in my next written piece, but it makes for a nice random thought to throw around at cocktail parties.