Trying to set traps before combat, the trap amount in my possession is reduced and my characters do the trapping animation, but no traps actually appear on screen as circles as in the previous patch. The traps also will not trigger in combat. Workaround is to beat the hard fights without traps.

Yeah, that seems consistent with what I'm seeing. Spell traps don't work either. Tried Priest's Repulsing Seal, as well as Chanter's Rime and Frost, neither has any effect.

Just noticed that this is actually listed in known issues. Sorry about that.