Capistrano mystery! No error, but won't use latest release... - ruby-on-rails

Question

I'm using Rails 3.2 with Capistrano 2.x, and I've got a deploy script setup. All was working fine until a few days ago. I noticed however, that our new code was not actually getting used on production. It's definitely been merged into the correct branches on the project's github. And, in the output of the cap:deploy, I even see it trying to checkout the correct sha reference for the latest commit. However, the files never actually update. My deploy script is below, as well as some output from running cap:deploy.
Deploy Script
require "bundler/capistrano"
# General
set :application, "foo"
set :domain, "foo.com"
set :user, "deploy"
set :runner, "deploy"
set :use_sudo, false
set :deploy_to, "/var/www/#{application}"
set :release_path, "/var/www/#{application}/current"
set :repository_cache, "#{application}_cache"
set :environment, "production"
# Roles
role :web, domain
role :app, domain
role :db, domain, :primary => true
# GIT
set :repository, "git#github.com:foo/bar.git"
set :branch, "release"
set :keep_releases, 3
set :deploy_via, :remote_cache
set :scm, :git
# SSH
default_run_options[:pty] = true
ssh_options[:forward_agent] = true
ssh_options[:paranoid] = true # comment out if it gives you trouble. newest net/ssh needs this set.
######## Callbacks - No More Config ########
before "deploy", "deploy:backup_db"
before "deploy", "deploy:copy_ck_editor_assets"
after 'deploy:create_symlink', 'deploy:cleanup' # makes sure there's only 3 deployments, deletes the extras
after "deploy", "deploy:migrate"
after "deploy", "deploy:put_back_ck_editor_assets"
# Custom Tasks
namespace :deploy do
task(:start) {}
task(:stop) {}
desc "Restart Application"
task :restart, :roles => :web, :except => { :no_release => true } do
run "touch #{current_path}/tmp/restart.txt"
end
desc "Back up db"
task :backup_db do
puts "Backing up the database"
run "cd #{release_path}; RAILS_ENV=production bundle exec rake db:data:backup"
puts "Backed up DB"
end
desc "Copy CK Editor assets"
task :copy_ck_editor_assets do
puts "copying assets"
run "cd #{release_path}; cp -R public/ckeditor_assets/ ~"
end
desc "Putting CK Editor assets back"
task :put_back_ck_editor_assets do
puts "putting assets back"
run "cd #{release_path}; cp -R ~/ckeditor_assets public/"
end
end
And I believe this is the relevant excerpt from the cap:deploy output....
2014-01-09 23:14:11 executing `deploy:update_code'
updating the cached checkout on all servers
executing locally: "git ls-remote git#github.foo/bar.git release"
command finished in 1841ms
* executing "if [ -d /var/www/bar/shared/bar_cache ]; then cd /var/www/bar/shared/bar_cache && git fetch -q origin && git fetch --tags -q origin && git reset -q --hard 4dbce9382fb4e9b532bf26c71a731e35b3970966 && git clean -q -d -x -f; else git clone -q -b release git#github.com:foo/bar.git /var/www/bar/shared/bar_cache && cd /var/www/bar/shared/bar_cache && git checkout -q -b deploy 4dbce9382fb4e9b532bf26c71a731e35b3970966; fi"
servers: ["bar.com"]
[bar.com] executing command
command finished in 3369ms
copying the cached version to /var/www/bar/current
* executing "cp -RPp /var/www/bar/shared/bar_cache /var/www/bar/current && (echo 4dbce9382fb4e9b532bf26c71a731e35b3970966 > /var/www/bar/current/REVISION)"
The sha hash is correct. And no errors are being thrown anywhere in the deploy process. This sha hash definitely has what I want on the git repo. But all I see in my releases folder is older stuff, and my current folder definitely has an old version (like several days old).
Any thoughts here are much appreciated... I'm totally unsure how to go about solving this one, since there aren't really any errors, and it worked only several days ago with no changes on the deploy script.
Also, if it helps... I did do a chmod to 755 of the main app directory (under which the release and current folders live) a few days ago. That was to fix this other issue we were having.
Thanks!!!