Suddenly the translations for custom fields has stopped working. We use WPML for translations. The custom field in this example is translated via String translation. The value of this custom select field is the same in the original and the translation, it's just the display text that should have a translation.
I've tried to remove the translation from String translation and then add it again, but without luck.
The problem applies to all custom fields, not just the one shown in the example.
I tested this on a local site and found the same, and checking our internal tickets it seems that this is a known issue that is currently being worked on.
It doesn't look like there is a fix yet, I have commented to remind the devs not to miss it.
I'm escalating this, and will update you when I have some news.
I brought this up with the devs. They have just released a minor hotfix of Types that fixes some issues, but this report was too late to be included. They will work on it now so that another hotfix can be published (we won't have to wait for a full Types update).
I was away on vacation last week and don't see much progress, and so I brought it up with the developers again this morning and they have assigned someone to work on it today.
If they produce a fix that cannot be released quickly I will try and get a patch that you can apply straight away.