Bristol_Jonesey - It certainly does sound like a routing problem, I agree, but, on the surface, everything looks the same as it did prior to the problem. If I look at the routing of older projects, they look the same as those in a newly created project. The difference is, the VSTi's work in the older projects but no the new ones.The VSTi's are not routed to busses.
Slartabartfast - I have been using MidiOx to see what is happening and all appears to be OK. The events it reports match up to what ever it is I am inputting on the keyboard. The issue applies to every VSTi that I have so it appears to be a global issue rather than VSTi specific. I do not use templates to start new projects.