The prompt window that appears when a project is converted from one engine version to another will "approve" the conversion even if the red "X" is pressed to close the prompt window.
1. Create a project using 4.7.4 source
2. Attempt to open the project with 4.7.6 source
3. When the convert prompt appears, click the X in the top right corner
Prompt will close but conversion takes place anyway.
Head over to the existing Questions & Answers thread and let us know what's up.