Entity Reference 7.x-1.0+8-dev
Field collection 7.x-1.0-beta5

I have a field collection with a entity reference field: values made available through a entity reference display in view (widget Autocomplete, but same happens for select list).

When editing, no values are available, and search fails, UNLESS you have the "Bypass content access control" permission (== admin).

The same does not happen for entity ref. fields in other content types than field collections.
A similar issue was raised in comment #28 in issue #1691612: Autocomplete is searching only on entity properties (not fields).