Posting this here in the hopes of saving others some time (albeit probably not headaches) and also on the hope that the Infor gurus like Dr. Awesome might have more current info than support has to give out...
There was a horrible bug introduced in the December CU where invoking an instance action on a User Business Class record will wipe out (nullify) any date or timestamp fields on the record. They're even gone from the audit log trail as though they were never there in the first place.
After several hours of troubleshooting and narrowing down a reproducible test case and opening a Sev #1 ticket, I got a call back almost immediately from support that this was a "known issue" that was "awaiting development".
I half wish we could turn FSM off and tell our users to enjoy an extended Christmas holiday while we wait an emergency fix.