Hi,
Looking at the Material_Nodes map in the ContentExamples project it seems that either the generation or sampling of reflection captures has changed significantly between 4.11 and 4.12. The attached screen shots compare reflections rendered on the first of the 3 transparent/refractive objects at the far end of the map.
There is a single reflection capture in the centre of the scene which is not ideal and the parallax correction is bound to create distortion towards the ends but i would say that the results in 4.11 are more accurate.
Perhaps this regression is a expected and the changes that have caused it were necessary to improve reflection captures in more appropriately authored scenes but I wanted to raise this issue just in case.
4.11
4.12