Node reference field options supplied by Views 3 work in preview, not in content
I faced this problem. After some hours of googling, I found the solution in these issue reports.


http://drupal.org/node/1306106
http://drupal.org/node/1356006


What you basically need to do is to install the development snapshot (7.x-1.x-dev, 25 Dec 2011) of Drupal Commerce. The patch has already been committed there.