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Just stumbled upon into a slightly different but still very related issue: media_acquiadam does not always takes into consideration the Finalized version of a given asset but sometimes (for some yet unknown reasons) only a previous asset version is being referenced from the Drupal side. This malfunction (for me at least) seems very similar to the one being solved in 🐛 Look for the "finalized" asset version not the latest modified Needs review for the more modernish acquia_dam module.

I would recommend to expand the scope of this ticket and inspect asset version handling logic of this module from a more general approach. That could probably solve multiple issues in one run.

Closing this as the change will be fixed the upcoming 1.1 release of acquia_dam, which will encourage existing media_acquiadam customers to migrate to.