I’ve been playing around with Zbrush 4R2 today and am finding models frequently ‘explode’ for no apparent reason after being manipulated in the Projection Master. I’ve also had this happen with the Snake Hook Brush & Dynamesh where the model will suddenly become full of holes (transparent?) as if parts have been totally blown away leaving behind a fragmented shell. This usually happens after manipulating/inflating parts of the model then clicking on the DynaMesh button - seems that after a number of clicks on DynaMesh the model goes ‘boom,’ which is something I’d have thought would have been discovered during testing. I also find that Zsub is way to savage on simple objects like rectangular pillars and when making a unified skin from a rectangular pillar the top and bottom edges are missing as if the software didn’t know what shape it should be. This is giving me a stepped effect on the ends. Seriously, I don’t think 4R2 should have been released with what appears to be unresolved issues that testing should have picked up.
Here’s an example of another problem. If you’re in perspective mode and drop to Projection Master and start modelling the attached image shows what can and does happen - your sculpted surface is distorted. If you come out of perspective mode you don’t get this and sculpting on something this simple works as expected - it should happen all the time no matter what mode you’re in.

Looks great in Projection Master but on pickup this is what I sometimes get:
Once in this state Ctrl Z has no effect but will take you back to the initial model is you press the key combination enough.

Hello
The transparent holes you are speaking of when using DynaMesh is most likely from the geometry at some point during stretching has become too thin. In some cases the geometry will even be intersecting in locations. This can cause the transparent issue you are speaking of. To be sure could you put up an image of this transparency issue?
When doing the Unified Skin on the cube what is your Smooth and Resolution set at in the Unified Skin sub-palette? Are you just using the Cube3D to turn into a unified skin?
When you say click on DynaMesh, what button are you clicking every time to DynaMesh? So you are not using the CTRL+Click drag anywhere in the open document to re-DynaMesh? Could you share images of what is happening when you get the explosion from clicking on DynaMesh? Would you also be able to share a step-by-step to make sure that nothing is missed in the workflow you are doing?
As for the Perspective being used in Projection Master. This looks normal. It has always been recommended to not have Perspective on when using Projection Master. If you do they when ZBrush picks the model back up it’s applying the changes on a model that is now in perspective mode, so there is a camera adjustment taking place.
For the Projection Master explosions would be willing to share the settings you have on. I can not duplicate this issue in my ZBrush.