Caused by rB00466e756e33.
While that commit sounds logical, Cycles uses is_updated_transform() to
detect updates.
Suggest to either
- introduce is_updated_shading() like this patch does or
- tweak is_updated_transform() to include ID_RECALC_SHADING or
- simply revert rB00466e756e33 [since it did not really fix anything
afaict]