Unreal Engine 4.7 Preview

I’m not sure whether has already been reported but I converted a copy of my project (my ocean demo project) from 4.6.1 over to 4.7 - Preview 7 without any, load up project everything looks and works as expected. But after I save & close project and then re-open it again later everything in scene is missing its material:
https:///file/d/0B3u_RPl4K60iaVBFdmhtQjh0Tkk/view?usp=sharing (didn’t want to clutter thread with large images)

I can open up my Skydome or Ocean blueprints and both show up correctly with materials applied in blueprint viewport. I have tried re-compiling materials/blueprints, rebuilding level (lighting is dynamic so no building lights), closing/re-opening, re-compiling code, etc, but nothing changes. I can however take a backup of map from one of autosaves and place it into my maps folder, and then re-open editor and everything is just fine. After saving and re-opening again I go back to image shown above with no materials applied.

Any ideas what could be causing ? Thanks!