bounce selection in 5.5

When I do bounce selection in 5.5 it creates a new audio file but even though i choose “replace” the file is not replaced in the project window.

Any setting or preferences I’m missing or is this a bug?

hmm…works fine here.

IIRC, there are options to both “create new file”, and “replace file”
You need to make sure both options are selected & it works fine here.