Custom ringtone can't be used as an alert tone?
I've created a custom ringtone for my iOS 6.0.1 iPhone 5. Encoded in AAC, renamed to .m4r, loaded via iTunes, and it works just fine as a ringtone. However, when I try to select it for use as a text alert tone it doesn't get used. When I click on the ringtone name in the sounds settings list the preview does not play (although the selection remains), and when a text comes in the default tone plays instead.
What restrictions apply to alert tones that don't apply to ringtones? Bandwidth, stereo vs. mono, other codec parameters? The problem doesn't appear to be length, I've tried this with 1, 2, and 3 second clips.
iPhone 5, iOS 6.0.1