Does this happen to anyone else? I have a file I added the a wave modifier to two different objects. I have placed an Empty object in the scene for each object and put an empty’s name in each wave modifier’s Ob field. If I move the associated empty I have to click on the wave modifier settings in the buttons panel to have it notice the new position.
This afternoon I tried the same thing on a another machine which had Blender 2.44. In that case one of the two objects was updating in real time as I moved the empty and the other was not.
Update as I write - I just opened it again to take screen shot of the modifier settings and now the modifier is updating in real time.