I have run into an issue where that when you replace an asset (fbx for my test), sometimes Unreal does not detect it was changed until the next start-up of the project. The few times I did this, the project would also re-import the asset again every time the project was opened. I was able to solve this by deleting the asset while the engine was closed, re-opening the project so Unreal knew it was gone and then re-importing the asset once again.
Repro (Fresh project, default settings, official UE v4.7.0):
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placed fbx in a folder inside the content folder
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opened the project so unreal would detect it
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replaced the fbx with a newer one, unreal re-imported the asset
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once the re-import finished, replaced the fbx again, this time with the original fbx, unreal did not detect the change
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closed and reopened unreal, asset was re-imported
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repeated step 5 over and over, same result
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closed unreal, deleted the fbx
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re-opened unreal, ignored all errors about the asset being gone, closed unreal without saving
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re-added the original fbx and opened unreal, asset was reimported
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closed unreal and re-opened, no re-import, everything is fine now
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Was also able to reproduce the same issue using a 4096 tga file as well
This can be very annoying if your fbx was importing large textures along with it (4096 for example). I doubt this was intentional but if it is, why was it done this way?