I have a similar problem. Shortly after installing SEP 12.1 on a test server, this was an upgrade from 11.0.6300, a co-worker noticed that their client wasn't receiving updates. Mine were and as it turned out as long as the LU policy was set to use the "default management server" and use the default Symantec Liveupdate server the clients got updates. However, if the policy was changed to using ONLY the default management server clients stopped getting updates.
Another co-worker who is having the same problem on his management server has taken to restarting the SEPM service on the server to solve this problem. That doesn't seem like the right approach, however I did notice when I had to shut down the management server for maintenance and then restarted it the clients got updates, at least for a few days. Now they went back to not updating. All are showing the last defs as being from 11/30/2011.
The management server show that it has the latest updates from symantec, in this case 12/02/2011 r3. Latest from Symantec and Latest on Manager are the same. All the clients have a green dot and checking their communications status show that they have recently communicated with the server. This is confirmed when I check their status in the SEPM console, which also shows a "online' green dot for the client.
Updating policy from the client has no affect and trying to update it from the server has no affect. The server communication setting is set to Pull mode with a 5 minute heartbeat. The proxy setting were just changed to no proxy since using the system proxy wasn't working. That has had no effect on the problem.
I recently updated the server to 12.1 RU1 hoping that would keep this issue at bay, however it came back. The clients are running on Win Vista, Win7 and Win2008R2 OS and all but one SEP client is 12.1 RU1.
Would appreciate any suggestions on how to determine the cause of the problem or even better if someone could suggest a fix. I am looking at updating my production servers but not until I can determine how to prevent this issue.
Thanks