We have never managed to get the revert to work in the editor (since version 4.0 last year). Yes it will revert the file but it has never ever reloaded the asset, we always have to close the editor. We’re currently on 4.7.3.
We’ve used all perforce server versions from 2013 to the new 2015 beta.
I don’t think this has anything to do with our server, the file reverts, the editor doesn’t load the reverted asset.
Edit: I can even edit, save and revert a material, see in the editor that it is not checked out. But if I diff it, it will show that the loaded one is modified.