SharePoint group audience targeting stops functioning

After you install the updates that are described in Microsoft Knowledge Base articles 952294 and 946517, Microsoft Office SharePoint 2007 audience targeting stops functioning for nested SharePoint groups for global navigation and for any SharePoint group audience targeting for Web parts. The navigation links and Web parts in these cases are not visible at all. Therefore, they are inaccessible to the user targeted.

Hot Fix :

Description of the SharePoint Server 2007 hotfix package (Coreserver.msp): October 28, 2008
http://support.microsoft.com/kb/957693
http://support.microsoft.com/hotfix/KBHotfix.aspx?kbnum=957693