Game speed slows down as FPS slows down (on android, only after unity3.4)

I have done a few builds for my HTC desire running Android 2.2 Froyo, and it has been working well.

I just installed unity 3.4, built project again, run on my phone, and now the game speed drops as the FPS does.
Eg. the FPS goes up and down while I play, this is normal for my game, but now it is as if the timescale is affected, and when the FPS drops, I am playing in slow motion.

Has anyone else had this problem? Is this a bug? or is there a setting I need to change to make it work like it used to?

I must apologize, definitely not a bug. In fact, just co-incidence, that I also recently changed the “maximum allowed timestep” to a lower number", this is of course making the game run in slow-mo. In a sense, limiting how many frames may be “skipped”, if FPS goes below a threshold, timescale slows down.