Ok, I can reproduce; there is something going wrong with this critter.
AbleTen - Adam Freeland "Morning Sun".
Even though this liveset is mostly made up from sound samples (clips) I really like this one. The bass is kicking some serious ass IMO, and I also like the low / high end differences.
ok, ok.. enough ranting
Just one "whine" though: Why doesn't Ableton keep the AbleTen series available in some archive or such? Honestly; the Covert Operators stuff is teh shit IMO (awesome stuff, even for learning)
OK... Back on topic.
As said I can reproduce.
I play Morning Sun and start messing with the BPM and get all sorts of nastyness.
When you play a song aimed at 133bpm at 30 or 336.....
Thing is; OP is correct. When I pull in the M4l LFO, connect it with global transport then nothing.. No change, no glitch just nothing.
While it should have.
Anyway; 'tis a bit too late for me to dive in. This could be a m4l issue, a patch issue (I'm tempted to blame the patch first; it wouldn't be the first time a flakey patch was released) or something completely different.
Either way; I'm diving in tomorrow evening.
But OP (original poster): It's not you, its confirmed. Something is amiss here.