I noticed the same thing today. Wonder why?
Yeah its killing me.
To the point where I am thinking about writing a script to correct it.
Of course I don't want to make something if Adobe is going to fix it.
After Effects has never read layer styles on a group in a PSD file. Applying layer styles to groups was a new feature in Photoshop CS6. After Effects CS6 and CC were not updated to read layer styles applied to groups.
IOW, we simply never wrote the code to make this work. I suspect that you were using a different method (such as the workaround below) to bring layer styles for multiple layers from Photoshop to After Effects.
You can work around this limitation by turning your group into a smart object layer. Right-click on the group in the Layers panel and choose Convert to Smart Object. You'll now see the layer styles on the grouped layers in AE, but the styles won't be editable and the PSD layers will be a single merged layer, not a nested comp.
Please submit a feature request for any functionality (such as reading layer styles on groups, or editable layer styles on smart objects, or importing smart objects as nested comps) that you would like to have added to After Effects:
Your are totally right Tim. I am embarrassed I was using a different workaround before. I will submit a request. Sorry about that.