Hello,
I've been having a similar issue since receiving the OTA upgrade Monday (10/31/11). I receive notification of texts through vibrate and ring tone but, when I go to check the message, there's nothing there. It's an intermittent issue and I haven't been able to nail down any pattern.
In testing I had my wife text me. I received notification of a text message from her shortly thereafter (she has her own ring tone for texts on my phone). I opened the Chomp SMS texting app and there's no message. I then open the stock messaging app and also there is no message.
I use Chomp SMS after suffering a nasty divorce when a text - destined for my girlfriend - was routed to my now ex-wife's phone.
Supposedly the "text roulette" issue has been fixed with this update but, as you might have imagined, I'm a little hesitant to give it a go.
Another symptom I've noticed is that when I go to the apps screen to check the stock messaging app for the text, there are two "Messaging" icons on the screen. One is in the "m" location (alphabetically) and another is in the "v" position. One of them (I can't remember which) has a number 1 on it indicating that there's a new message but when I click it there's nothing there. Also, when I go back to the app screen the messaging app icon is replaced with a green Voicemail app icon.
It seems as if maybe the new update tried to separate the messaging and voice mail apps (which would be welcomed by me if it worked because going to "messaging" for voicemail seems absurdly counter-intuitive to me).
I reset the phone to factory and sent out a few texts through the stock app but haven't received any replies as of yet. Of course, that could be due to the fact that they haven't actually replied or, it could be that my messages are floating around somewhere in the ether.
Anyway - YOU ARE NOT ALONE. Anyone listening Google/Verizon/HTC?