I got the same problem as above.
I switch between two accounts: @gmail, Brazillian account, creditcard information, for free and paid apps; and @hotmail, Japanese account, no creditcard information, only for free and Japanese store exclusive apps.
When I try to update an app purchased in Brazillian account, it pops up a window asking for password for Japanese account. Obviously, after trying to certificate with hotmail password, it says that I have to purchase it to update.
When verifying in Config -> Store, I can see that I am logged in Brazillian account. But when I try to update, it always asks me for Japanese account password.
The only workaround I have found is to delete the app and then re-install it (iPhone asks for AppleID + password, then I type Brazillian account), it confirms that I have already paid for it and installs successfully. The problem: I lose all app info, docs and stuffs.
Does anyone have a solution for this?