Well I gave up on waiting for a fix. I reset my phone back to factory default and reloaded all my apps and data. Now the notifications work the way they are supposed to.I wish they would quit using us for R&D when they roll out a new operating system.
I am having the same issue. All of my notification setting are correct, but am not getting any email notification. After seeing this thread, it's probably a bug in Lollipop.