Mbed Studio 0.5.3 does not compile updated code

According to the Release notes for version 0.5.3 :

  • Debug does not work w/o building the program first
  • Mbed Studio not compiling modified files

Simple code modifications to mbed_os_example_blinky such as increase SLEEP_TIME or PRINT_AFTER_N_LOOPS has no effect. The recompiled project runs exactly the same as if no code changes were made - despite seeing the files in BUILD updated (validating the build has occurred).

Furthermore - run in debug with breakpoint(s) has no effect, ie it does not stop at breakpoint, despite disabling and re-enabling the breakpoint(s).