Sorry to keep you busy with another bug report...or two
I'm using EM 4.0.8 now on a WP 3.1.3 multisite install. I'm not using global tables.
I've got a small setup with just two locations and one event. Both locations are owned by the same user. I've checked the database and there doesn't seem to be anything unusual about either of the events (one of them has a postcode and the other doesn't, but I can't think how that would affect anything).
If I have Use Dropdown for Locations turned on, I only see one of the locations in the dropdown when editing an event. If I don't use dropdown for locations both of the locations are visible.
This is true when editing events both as an administrator (the person that owns the location and the event) AND as a network admin.
I would also add that when editing events and locations in a multisite setup as a network admin you can select ANY user from across the blog/site network. Can this be restricted to only users from the local blog/site?