I opened an existing project and realised that I had no bass. Checked the obvious and then tried disabling the Cakewalk bass amp FX I was using (one of Mr Anderton's). That cured it. I then tried different Cakewalk FX - some worked and some didn't. Finally I realised the link is they all use TH2 Producer.
My TH2 Producer no longer has any output. The input meters move but, standalone or as part of a FX, there's nothing coming out the other end.
I've done nothing to my setup and I'm on the latest (July) Platinum.
Just me or a global problem?