I think in your example the bang is not really needed for initialization since live objects are triggered automatically when loading the patch/device. Sending an additional (redundant) bang seems to cause the unexpected behavior.
Dimitri - I have used your live.observer workaround subpatch in a max for live device. I have credited you. I hope this is OK. I have not found a way to PM you, or find a facebook or similar for you to ask you up front.