Patch 4.0.6 brought about an undocumented change to the way transmutation specialized alchemists receive their bonus from the Cataclysm Transmute: Living Elements. Previously, if you were successful with a proc, you would be granted another 13-16 of any volatile. Now, the proc is guaranteed, but you only receive three to four of any volatile in addition to the 14-16 from the original transmute. Blues have commented thusly:

 

RE: Living Elements proc nerfed or bugged?

I wanted to hop in and clarify and confirm there was in fact a change that was implemented with the patch that unfortunately did not make the patch notes.

The change actually adjusted the return on the transmutes so that you weren't getting spikes in the amount of items you'd get from the transmute. Instead, if you transmute over a period of time, the amount of the transmute return should even out.

So basically if you transmute on a regular basis, you should see a more regular return on the transmute vs. a spike in large returns. Transmutation specialists will almost always get a PROC when transmuting living elements.

source

Essentially, now that the proc is guaranteed, you will be making the same amount of volatiles as you would if you were to proc, but over a longer period of time instead of all at once. Depending on how lucky you are or were, this could mean a lot more or a lot fewer free volatiles from your transmutes.