Audio Volume Too Loud in Unity3D 4.5.4f1

Hi.

I updated Unity3d and now all sound effects are about ten times louder than before.

This is clearly a bug since going to Audio Settings and changing anything (e.g. changing volume to .99 or changing latency) fixes the sound. However opening a new scene makes the bug come back.

Any pointers? I'm using Unity Pro and the problem manifests in device builds as well as in the editor, and it worked fine in v4.5.1.

Thanks.