Are composite layers working correctly for you guys in the latest build (10/01/15) - I've got a simple material, in the diffuse I have a composite layers - 3 layers in there, on two of the layers I have fall offs - no texture is rendering, just a solid diffuse colour?
-Edit : Seems like a bug here, Created a new material and copied the diffuse, now works fine - this has happened a few times when running Deadclowns material conversion script, the diffuse isn't recognized until a new map is created with exactly the same parameters, then all is fine