Bump.
This issue is confirmed. I posted about this in another thread:
http://www.project1999.com/forums/sh...50#post2100950
My post read: "Confirmed. In my text/chat window, my defense skills is going up. However, the defense skill in the skill window shows the old value, in red. This is not merely a display error--armor class is not going up when the text/chat window shows defense skill-ups."
This mechanic bug is still in place as of 11/15/15. Again, the text window shows defense going up to it's new proper value, but the actual value--as displayed in the skills window and as reflected in armor class--is still tied to the old values. In short, shadow knights, paladins, and bards are not actually getting any additional armor class and are locked into pre-patch armor class caps. This is not merely a display bug.