Yep it is a bug, Not sure if there is a hotfix for it yet and another thing to whatch out for in the toolbarmanager if using the ribbion is the "tabs" not saving the caption "no matter what you do" so you end up setting them on formload waiting for a fix for this one as well.
Yes, it is definitely a bug. But not only with the Wintoolbars. The same bug occurs with the WinGrid! Changes will not be saved. You can see it on the star in the tab of Visual Studio designer (which indicates changes on the form). If you change the toolbar or something in the grid, there is no star in the tab! The designer dont get a message from the Infragistic tools, that changes occurs.
I'm using NA 7.3 and VS 2008 Prof.