I updated 2 sites via URL to J3.4.7 as I have file permission issues with the server. Many links in admin didn't work anymore but indeed after a logout/login in admin all was cleared.
I quickly did a template refresh on cache/templates by putting the directory on 777 (due to file/permission issues) and on the front-end most issues were cleared too. I haven't done an update on cache/cck yet but I'm leaving this till the guys on server-side are back at work after the X'mas break.
Seblod is working 100% fine after the joomla update to 3.4.7 except for the 'Filter' option in the search form (front-end doesn't react) but I guess as stated above, once I'll clear the old cache all will be fine.
By the way ... Joomla has just launched a new update: 3.4.8