I can't believe no one from Adobe has answered this issue (BUG) as this original issue was posted three months ago. I ran into the same issue with v 9.1.2 and it ~was~ very frustrating. I had to "upgrade" to FoxIt to resolve the issue. I hope this issue is resolved soon or at least someone at Adobe is man enough to own up to this being a bug.
4 years later this also does not work in XI on my Mac OSX Mountain Lion.
This seems to be a problem with some PDF files.
Suggested workaround: If the PDF you have allows "Save As", then try save-as to a new file. The "Restore last view settings when reopening documents" option should then work as expected (in the new file).
(Original post: Restore last view setting not working in version XI)