The ThemeForest History section is very confusing in naming things. The fact that you see there approved under your own username doesn’t mean that the update was approved. It just means that you have submited succesfully (very bad naming but hey). Only when you will see there a message from a reviewer with approved then will your files be updated. Ran into this problem myself until I figured it out.
Submitted theme v1.3 updates and subsequently approved(tried 3 times ). There are messages from reviewer :“Approved” and confirmation email :“Congratulations! Your update to Spalon – Responsive WordPress Theme on ThemeForest has been approved. You can view your item here:”
But actual download package files/preview image are all same old version v1.2
files uploaded via FTP and Submitted for review