UPDATE: Ok, I have reported this issue to Technical Support,and also posted to the Feedback Tracker.
Hopefully they will get it fixed soon.
In the meantime, I have reinstalled the older version of Character Creator 1.54 , and the .fbx export is still working fine with this version.
 I should still  be able to continue working from Lightwave to iClone Character Creator as before,which will do me fine for the time being.

Also found a problem coming out of exchange into Lightwave with the new Xchange 7.02 the model and mesh are 90 degrees apart. 

Glad to see the .fbx export issue has been adressed with the lastest Character Creator 2 update (v2.2)
Everything loads nicely into Lightwave now.
Thank you Reallusion for fixing it.

Yes that is good to hear!