+1 for me.
Actually it's a slightly different scenario for me;
I use my MBA 13" mid 2011 at home as a standalone, connected via Wifi (no external display).
When I come into office I hook up to my TBD.
The MBA always defaults to connect to the office Wifi even though the Display Ethernet cable is connected to the TBD and this is set as a higher priority connection in the Network Preferences panel.
Even if I manually turn off Wifi the Display Ethernet DOES NOT CONNECT automatically, even though it then defaults to the highest priority connection (Wifi falls down the list to about the 3rd priority).
The ethernet cable is physically connected but Network Preferences tells me "Status: Cable unplugged". Even if I manually remove the cable and plug it back in it does NOT recognise the connection.
The ONLY way to switch to ethernet is by rebooting the MBA as you've all previously mentioned.
I'm really displeased with the TBD and wish I'd just bought a standalone iMac 27" without any of these problems (and without numerous other bugs/lack of features) and which could have been booted up to use as an external display with the MBA too.
Really hope they pull their finger out on this annoying bug.