It works exactly as advertised when standalone, but if used in a dynamically-assigned DataTemplate the SelectedValue gets ignored (in both directions).
<Window.Resources>
<DataTemplate DataType="{x:Type wpfApplication2:Element}">
<StackPanel>
<TextBox Text="{Binding SelectedValues}" />
<!-- This doesn't bind -->
<xctk:CheckComboBox ItemsSource="{Binding AvailableValues}"
SelectedValue="{Binding SelectedValues}"/>
</StackPanel>
</DataTemplate>
</Window.Resources>
<StackPanel>
<ItemsControl ItemsSource="{Binding Items}" />
<TextBox Text="{Binding Item.SelectedValues}" />
<!-- This binds OK -->
<xctk:CheckComboBox ItemsSource="{Binding Item.AvailableValues}"
SelectedValue="{Binding Item.SelectedValues}" />
</StackPanel>
Am I missing something? I can send the full sample project that demonstrates the problem.