Had the exact same experience on this end (flippers and random playfield elements looking fine in 10.7.1 but becoming invisible in 10.7.2).
probably attributable to the fact that I'm running on an old-ass laptop but I figured I'd mention it so you know it's happened to more than one person.
10.7.2 made my DE Simpsons playfield disappear, messed up my DE Indy Rom, & made my Haunted House flippers disappear.
There were probably other negative effects as well, I gave up after those table tests...
After all that I went back to 10.7.1... (with allot of effort).
Not sure why you are having those issues
but to go back to 10.7.1 you only have to drop the vpinballX.exe in
no script or dll changes presently