This has been reported to Support, but I am also posting this here as well.

For sound modules dependent on updated patch caches in order to play the correct patch for a track, there is an option in RB 2011 (v4) under PREFERENCES/MIDI/MIDI OUT to set "Cache Patches when Playback is Started" to TRUE (default is FALSE). This function does not appear to work. This causes the previously loaded patches from each track to play instead of the newly changed patches due to track editing or when a new song is loaded.

The temporary workaround for this is to start play with the incorrect patches, run for at least 15-20 bars of the song, stop playback, click "Cache Patches Now" under the Action Menu, rewind the song, and then play. This usually updates the cache, but sometimes the song needs to play enough bars with the incorrect patches so that all (or most) of the tracks become active before manually updating the cache. I have also observed that stopping the song after 15-20 bars have played, clicking the PANIC button, and then starting play from that point SOMETIMES updates the cache.

I hope that this can be fixed in the next update of Realband 2011, as this is a real nuisance!

Dave R