After doing a conversion, I looked in the database tables at the field_data_* tables and noticed that the bundle column was not updated to reflect the new content type for the node. I'm not sure what the consequences of not changing this field are but the field's description is:
"The field instance bundle to which this row belongs, used when deleting a field instance"

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tea.time’s picture

tea.time commented
Version: 7.x-1.0 » 7.x-1.1
Status: Active » Fixed

I just ran a conversion and spot-checked the bundle value in a few tables and it has been updated. So it appears this has been fixed as of version 7.x-1.1.

Status: Fixed » Closed (fixed)

Automatically closed -- issue fixed for 2 weeks with no activity.