I have the latest firmware installed, I'm in Logic operation mode and have the same problems with my Faderport v2.
In "flip mode" both the fader and the jog wheel control the Pan, instead of flipping their roles.
The "Link" and both "Lock" buttons appear to have no functionality at all, which is fine, but those aren't assignable either.
The default setting for the "Bypass" button doesn't work and new assigned functions have been ignored completely so far.
That makes too many buttons completely unusable.
It didn't work with older firmware versions but is there anything I have to do (reset anything on the Faderport or in Logic) after a firmware update to make it work properly now, if those errors were addressed in the latest update?
MacBook Pro 2015 / macOS 10.13.6 / Logic Pro X 10.4.3