When an IP Patch is applied using METHOD1 as described below, 'compile_simlib' will fail to find all IP cores in the Vivado install and will only compile the Patched IP.
METHOD 1: (Vivado 2014.4 and later only)
a) Navigate to the $XILINX_VIVADO/patches directory (Linux) or C:\Xilinx\Vivado\<vivado_version>\patches (Windows) directory (create this directory if it does not exist).
b) Extract the contents of the ".zip" archive to a directory starting with the name ARXXXXX note: most extraction tools will allow you to automatically create a directory the same name as the zip file.
c) Run Vivado software tools from the original install location.
The work-around is to instead use METHOD2 as described below when you need to apply a patch and then run 'compile_simlib'.
1) Creating a separate directory containing patched files.
2) Extract the contents of the ".zip" archive to the desired patch directory location.
3) Set the XILINX_PATH environment variable to point to this patch directory.
4) Run Vivado software tools from the original install location.
The issue will be fixed in a future release.