Playing 1.26 still atm and found that NA bowmen are acting funny.
The AI stands out of range of my infantry and wastes all their arrows before charging. This doesn't seem to effect my own bowmen however in a later battle where enemy bowmen were rushing me I began to suspect that my colonial militas bullets wern't even launching.
Later on in the last battle I fought the arrows came back to deadly effect to my infantry but it was at least half way into the bows range if not more so.
The odd thing is that I don't see the graphics for the arrows flying through the air nor bullets, but back in Europe everything is working as normal (I use Kalmuks as my main skirmishers as the bow can be fired faster and seems to do more damage than irregular infantry and other unmounted skirmishers.
The only thing different I've done since starting this game as a 1.25 game was bump up my graphics add bloom, anti-aliasing and the other thing from x2 to x8.
I get odd graphics flickers from this while deploying my men pre-battle but once it starts this goes away and I have no ill effects.
I didn't want to mess around with making a clip with xfire so I made some SS':
as you can see the arrows show up as the men notch their bow but once launched it just disappears.
In this one you can see that some bowmen have their arrows already vanishing before they've even loosened their bows.
The 10 men lost from my second CM regiment were from the previous battle where the Dutch bowmen spent their arrows and charged me into a melee.