I to am experiencing this. We have some links modules that were populated with links, then the settings were changed to display the links in the dropdown menu with the "GO" link.  All of the links lead to pages which have the "All Users" group checked for "View Page".  So, this tells us that this is not an obvious permissions issue. 

When any visitor that is not an Administrator comes to the links modules with the dropdown lists and chooses a pages and clicks the "Go" link, the page simply appears to refresh.  When any Administrator does the same thing, the page that is supposed to load does indeed load instead of the apparent refresh.  The interesting thing that when we have experienced this, if we revisit the page the links all disappear from the dropdown menus.  I thought changing the links modules to show the links in a vertical listing (the default) would be a viable work-around for now, but I noticed that the links were still disappearing.

I looked into this further and noticed that the cache was set to 60 seconds for each links module that this was happening to.  If we were not experiencing any side effects, I wouldn't have thought anything of it.  I changed the cache time to "0" seconds and this has fixed all of these problems with the links module.

[EDIT]
Sorry, I forgot to include some very important information.  I am running DNN v4.3.5 (originally installed and upgraded from v4.0.2), and the Links Module is v3.03.00.
[/EDIT]

I would like to task the Links Module Project Team with perhaps changing what appears to be the default cache setting of "60" seconds to "0" seconds or fix the cache bug that we have stumbled upon.  (I say that, but it probably has already been reported.)

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Will Strohl

Upendo Ventures DNN experts since 2003 Official provider of the Hotcakes Commerce Cloud and SLA support