I had a similar problem, also using WP Migrate to migrate DB.
Two things:
1) I don’t think this issue should be marked as “resolved”. A work-around has been found, but the issue remains, and it is a fairly significant one since the DB appears to get corrupted, and any custom templates are lost!
2) I found, in applying the wonderful solution posted by Michelle above to restore the defaults, that I needed quotation marks around the data in the query :
$revertquery = "UPDATE {$wpdb->options} SET option_value = '{$defaulttemplatevalue}' WHERE option_name = 'tbt_templates'";
Thanks Michelle – great idea!
