Symptoms

Autocomplete control doesn't return any SmO properties other than one selected as a Value for Autocomplete Control data source (AutoComplete control > Configure Data Source > Use a SmartObject as data source > Value). This happens only when Init rule is disabled (When the View executed Initialize THEN populate AutoComplete list control with data).
 

Diagnoses

The values for other properties are not resolving because when Live Search is switched on, the control uses its own AJAX handler to populate the data which skips some internal runtime logic that helps resolving any SmartObject properties for the control's Data Source. This has been logged as a known issue. Possibility to coldfix this has been investigated but it is not possible as it requires full overhaul of control code and at the moment it is slated to be fixed in 4.6.12.
 

Resolution

This has is known issue with no possibility to coldfix this in current versions of K2. This issue is slated to be fixed in 4.6.12 which is bound to be released in Q1 2016.