Umm, what Bruce is reporting and what you are reporting are two very different things.
If the changes display after a refresh, this is a common issue with web development and page caching. In
IE, general settings, temporary internet files, change your caching preferences to suit your needs. Generally, check for new versions automatically works, but proxy
server settings may affect this is as well. Bruce's problem might also be caused if changes have been made to page caching in the latest stable version, (I don't think they have, though folks have been posting some caching changes on the forums), but that would not have anything to do with lost data, the data would be written to the database, but the page would need to be refreshed to display the changed data.
However, if the pages change after a refresh, the data is getting into the database, and folks with properly configured browsers and proxy servers will see the changes immediately (now if you've made one of the caching hacks, then all bets are off).
If you're students are really seeing saved changes that are not inputted into the database, then refreshing the page will have no effect (the changes will still not be there no matter how often you hit F5) you've discovered a serious issue either with your set up or with Moodle. If on the other hand some students are using machines where the page caching has been set to never check for new page versions, or or only when IE starts, they might well see this behavior, though the changes will actually get into the database, it wil appear to the students that nothing changes (until they force a refresh).
If you are actually seeing apparently sucessful page edits (no error message) that don't show up even after a forced refresh, make sure
MySQL is set to use my_huge.cnf and php is getting plenty of RAM (but in either case you should get an error message, not an apparently working edit that doesn't actually change things). If you have a proxy server or load balancer, make sure it is set up properly.
Please report the bug with all available information (your server type, configuration, the OS and browser versions the students are using when it happens, etc.) When you check the activity logs, does it show the students attempting to edit their posts/journals/whatever?
Where are your students seeing this? In forum posts? In journals?