Index: loader.py
===================================================================
--- loader.py	(revision 7397)
+++ loader.py	(working copy)
@@ -45,7 +45,7 @@
     # because putting this logic in the module-level namespace may cause
     # circular import errors. See Django ticket #1292.
     global template_source_loaders
-    if template_source_loaders is None:
+    if template_source_loaders is None or len(template_source_loaders) != settings.TEMPLATE_LOADERS:
         template_source_loaders = []
         for path in settings.TEMPLATE_LOADERS:
             i = path.rfind('.')