Hey Eric,
I have the bounds set up correctly and I can also see that the effect is being played. The problem is that as soon as I attach to my player controller in the game, the refraction-part of the effect vanishes. The emmisive part is still rendered correctly and visible, so there should not be a problem with the emitter bounds.
As I posted above, this problem vanishes as soon as a static mesh in my view has the particle material applied to it and is visible. So my current solution is to create a tiny mesh next to the effect and apply the material to it, then play the particle effect and then delete the mesh again. Sounds like the engine is not loading the material correctly when only the effect is playing.
Thanks,
Cultrarius