Is Adwords aware of this problem if anyone from Google is reading this?
...the maximum cpc you set for the ad group
Did you click the "increase minimum bid" for this particular keyword?
It looks like the AdWords Group maximum bid no longer applies if you have manually raised the bid of individual keywords to get them back on-line after all the changes.
This is sticky ground for AdWords. We have AdWord Groups where we have a maximum bid set at 5¢ and have had to change some keywords within the group to 10¢ to get them back on-line.
Which bid applies?
Probably the higher one :-)