I first noticed this bug after upgrading my WordPress site to version 3.4.2. The custom fields stopped working as normal. Instead of "flashing yellow" to signify the custom field was saved, only a small box flashed yellow... and the custom field did NOT save. Note - you are able to save the custom field edits by saving the entire page/post, but that's not obvious and definitely a bug in WordPress core functionality. The fix is to add a little PHP code snippet to your theme's functions.php file. This tutorial demonstrates the bug and how to fix it. You can get the actual PHP code for the fix at http://www.supint.com/wordpress-bug-fix-custom-fields-not-working-in-wordpress-3-4-2/
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