Have set up and tested this using three differing SCORM packages. v1, 2 and 3.

CRON working and running every minute

1. Setup a repo and dropped in file
2. Put in first SCORM as a linked file and update 'every time used' and ran through worked.
3. Then put in a newer file and checked the SCORM package info in the course and the  link's date time updated and matched to the new file
4. Ran file and was the old one
5. Removed the link and added link to the new file
6. Ran file and was the old one

So firstly is there a bug here? Also what files and meta info does this function check for verify a new file is available