Your LR is newer than your PS so not everything is compatible.
Instead of choosing Open Anyway when you get (or originally got) the warning about LR being too new compared to PS, you should choose the option to create a TIF on the way into PS, that way LR will create a TIF with all it's settings already baked in, and hand that off to PS.
What is happening now with Open Anyway, is that LR is sending the raw file and all LR 4 settings to PS, and PS is opening ACR 6.x and it only applies the settings it understands, which doesn't include Defringe.
If you are no longer getting the choice about what to do when using Edit in PS, then go into the LR Preferences and click on the button that says Reset All Warning Dialogs or some such verbiage, then LR will ask all those questions, again, and you can choose the answer that isn't Open Anyway. I forget what the exact phrase is and don't have LR 4 on my system to check, anymore.