It is crap, I just did a system restore as it destroyed a couple of projects I was working on.
 
Do they test this stuff?
 
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Mine said "melodic" so I clicked on it again and it worked. 
 
However, a vox with Cakewalk's HF Exciter enabled won't play = audio dropouts that won't stop. Disable HF and all is good. 
 
Tired of testing developer's stuff.
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The update threw a tantrum on X3 Producer.  And the Celemony website is not allowing me to activate on my computer.  The license (you're allowed 2 and I have both free to use) and there is no button or link to activate.

I wrote the company and their response was to wait until the next day (tomorrow) because their servers are busy.

I tried again several hours later (a couple minutes ago), and still no way to activate the license.  It has my correct serial number listed in my profile, but beyond that I am unable to do anything.

The update works ok here - but I always use it as a Region Effect - except for the algorithm always defaulting to percussive, even though I've got it set to Melodic.  Melodyne are usually good at mending things quickly so I'm assuming they will do so here.
 
A pity we can't see if any other customers are experiencing this as they closed their forum: "We feel that an online forum might be no longer in keeping with the times."  (Hmmm, I don't buy that...)

Also have issue with dragging audio with chord to midi track. I'm using CbB latest version and Melodyne Editor version so should expect midi chords but getting a single line of notes so obviously wrong algorithm. Gone back to previous version that works correctly and sent e-mail to Celemony to open a ticket.
Roy

All good here. Works as expected at least for the way I use Melodyne.  I also discovered that the algorithm needs
to be set to melodic so when audio is dragged to an instrument track it plays as expected. It worked fine after that.

Just updated CbB to the latest build and Melodyne Studio to its latest incarnation.  All seems to work well together!  

LJB
I just updated mine and it seems the autodetection is a little unpredictable.. sometimes it just leaves the notes in a straight line, instead of detecting the pitch.

LJB
I just updated mine and it seems the autodetection is a little unpredictable.. sometimes it just leaves the notes in a straight line, instead of detecting the pitch.

this is exactly what is happening with me with the new update. But no way to roll back. If I toggle it it draws the correct wav.