I had a brief bit of strange behavior with my AxeFX III after this update. The unit wasn't passing a signal, and although it was connected to Axe-Edit, and I could change patches via Axe-Edit, the AxeFX wouldn't save any of my edits. I looked at the AxrFX I/O configuration, and input 1 had been reassigned to SP/DIF; even after changing it to Analog, the unit wouldn't pass a signal. After poking around for several minutes, I still couldn't identify the problem, and used the AxeFX unit's Utilities menu to reset the system parameters. That fixed it. I don't know what happened, but it's all good now. BTW, yes, I am running the most current version of Axe-Edit, and using v12.11 FW.
This new firmware sounds really great. I'm loving the sound of my presets.