Re : Structuring of application state objects

Quick associated question to this.  I am creating an observable which will hold my global application state, and have another observable that represents a player which is added to the global state observable.

If I pass the global state observe to a view when the player is null, and then subsequently set it to a player object... I see the view update via live binding.  However if I set a player object in the global state observe, and then set it to a new instance of a player object once the view is rendered, the view is not updated.  So from null -> Player observe, the view updates, but from Player observe -> Player observe the changes are not updated.

Does this sound correct?

Thanks,

Adam