Dynamic links only works within ONE suite. DL in CS5 works, as it does in CS5.5, but not between suites like CS5 to CS5.5 or the other way around.
That's why I changed all CS5 Dynamic Links in Pr CS5.5 project to links to AE CS5.5 compositions
Tried to play around. Realised that a solution should be somewhere around re-rendering, 'cos linked AE compositions were always displayed in yellow as if they were original footages - even I changed a composition within AE, just transitions, if they were, changed to red in Pr Pro sequence...
However, I was unable to re-render 'Entire Work Area' even after deleting all Render Files, just 'Effects in Work Area'...
Then I simply created a new sequence and copied and pasted all the clips from original sequence. Now I was allowed to 'Render Entire Work Area'.
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Keep on working on my project. When I change a Dynamically Linked composition, it turns yello in Pr Pro sequence again, and I do not allowed to 'Render Entire Work Area' again...
Guess, it's not a 'feature', it's a 'bug'...
UPD: Simple workaround to get access to 'Render Entire Work Area' option if it's greyed out. Select any clip in the timeline and copy it into clipboard (Ctrl/Cmd+C) - here we are!