What I noticed is that when I update the AUT project, the Dll's I have referenced are updated and my solution is sort of updated. I sometime have references to those Dll's and the AUT won't rebuild properly.
Colleagues told me to reference projects instead, which I did. When I start the application and try to find items, they are not found. When I use spy against the AUT, everything is found correctly. I noticed that it's random. I start the test (via NUnit and Resharper test runner) and it fails. I start again with no rebuild and it works. It's driving me nuts

I use Ranorex 2.33, Windows 7 (64bit), Visual Studio 2008 for both projects.