When I select a specific view for a calendar web part and "apply" the settings, the web part shows the view correctly (with the calendar items). However once I have "saved", the settings I have selected do not appear in the web part view. I've confirmed that the View I have selected includes the items that should be viewable, however nothing is populating in my web part view.
Do you have publishing enabled? Do you require check-in and check-out on the page that contains the web part? If so, you may need to check-in the page and publish it.