Masonry effect not loaded in D7 Masonry Views I had installed Masonry Views module, along with Masonry module in my Drupal 7 site.
In my view, I can select format as "Masonry", and had updated the details such as column width.
But the output still displays the view like unfomatted list.

In my status report, it shows
jQuery Masonry: 2.1.08
jQuery Update: jQuery 1.7.1 and jQuery UI 1.10.2

My js file is in: www/mydomain/sites/all/libraries/masonry/jquery.masonry.min.js

I had flushed cached, but the masonry effect still doesn't appear. Any idea what's the problem?
It's just because you are just updating a Jquery version in front end theme but not updating in admin theme. Because views opens in admin theme so you should also update Jquery version in it. For getting this work just goto admin/config/development/jquery_update  and click on configure link in front of admin theme, then select the same version of Jquery as you selected in front theme. Now you can edit the masonry views as per your needs and check the result.