I had the "not saving" problem when upgrading an existing feedback from 4.4.1 to 4.4.3.
I found a way round it.
If you complete ALL values in the feedback settings.
Send To:
Send From:
Width:
Rows:
Send Copy:
Optout:
Category:
Category List Visible:
Use Category value as Send To:
Subject:
Subject List Visible:
Can Edit Subject:
Subject Field Hidden:
Moderated:
Moderation Category:
Send Email Asynchronously:
Use Captcha:
Name Field Required:
Then update, the values should save, you can then go back and remove the items you do not want ONE AT A TIME.
If you try to remove a whole lot in one go it will probably fail.
This should help your de-bugging Sanjay.