I spent a long time debugging using dynamic material instance with a MaterialBillboard, until I finally found out that there is a bug in UE4:
And according to the last comment the bug still exists in 4.5. How is this possible? It seems like such a simple thing to fix. Is this going to be fixed any time soon?
I was having issues with MaterialBillboards not properly working with my material parameters. It was as if they were not Dynamic Material Instances. What I found was SetMeterial does not work on MaterialBillboardComponent. This is what I had to do to replace the Material with a MID in my construction script. The ActivateIcon is my MaterialBillboardComponent.
This works, great! Thank you!
