This problem got me thinking... hmmm we are using DNN 4.6.2, currently. I wonder if our UsersOnline module is not working as expected.
Sure enough, it wasn't. So we dived in to track down our problem. Here is what we found:
It seems the problem lies with the DNN Scheduler. We saw that the PurgeUsersOnline event was not completing sucessfully. However, we could not find the cause. We could run the SPROC ourselves directly, but the scheduler was failing to complete sucessfully. We disabled the other events in the scheduler until the PurgeUsersOnline event started working and then enabled the other events, thinking something was causing a conflict. Our UsersOnline module is working properly now, but we know it will fail again in the near future.
What is curious to me is that the UserOnline module for this site seems to be functioning properly.
Sorry we could not help further. We will continue our quest to find an answer.