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No Martin. I would expect no issues. LR and PSCS4 have better interaction according to the information released. Also there have been dot releases of LR to coincide with ACR releases, so I would expect the same in the future.
ACR 5 will have an interface for the local adjustment tools, whereas 4.6 can convert with Lightroom's local adjustment settings, but doesn't have an interface to adjust them. The settings themselves are still identical for the time being.
Good, thanks. I was concerned that there might be differences in the adjustment tools in LR and CS4 that would cause problems. CS4 sounds like a good update.