Packages (in particular Commerce) do not always put modules in sites/all/modules, e.g. sites/all/modules/contrib. The update process seems to always put the updated module in sites/all/modules, which leaves you with both the new and the old version and unfortunately the old one is the one that is found and used.

The update process should put the replacement where ever the current version is.

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Version: 7.22 » 7.x-dev

Core issues are now filed against the dev versions where changes will be made. Document the specific release you are using in your issue comment. More information about choosing a version.