This was happening to me before the update as well.
I pull up inventory window. Type something into the search field (which I know is in my inventory, such as the version number "2.0" to pull up all the scripts I've written that have the 2.0 version). Yet nothing comes up in the window, it says "nothing found."
Or when you are editing a sculpted object, and click on the sculpt texture, the window that comes up usually shows a list of all the textures in your inventory. But it shows nothing.
Yes, I cleared my cache, deleted the SL client and reinstalled it, every conceivable thing. Nothing fixes it.
Mac PowerPC G4 1.67GHZ.
-=GE=-