Just as we got used to a new version of iTunes, Apple has gone and made it extinct with an almost immediate update from 7.4 to 7.4.1. About the only thing it will do is break all those homemade ringtones.
Those that have taken the time to create their own ringtones from an existing song in iTunes has discovered that updating to 7.4.1 breaks most, if not all of them.
According to TUAW, Apple has not listed specific changes in 7.4.1 but what is certain is that simply changing the file extension of your rintone will now cause it to be blocked. There may be a way around this by changing the ringtone back to the “.m4a” extension may fix the problem.
Or… you could choose not to update iTunes, your choice.
[UPDATE:] According to Engadget, it seems that the above solution only works to an extent, it will work with existing files ALREADY in your ringtone directory but once you try to add new renamed files, it seems to break again. Thus ends the era of making your own ringtones for use on your iPhone. But, is anyone surprised? I’m not.
[UPDATE 2:] Engadget has further information.