Nope, works perfect:
ubuntu@arm:~$ dmesg | grep bone
[ 0.000000] Linux version 4.1.1-bone9 (root@a5-imx6q-wandboard-2gb)
(gcc version 4.8.4 (Ubuntu/Linaro 4.8.4-2ubuntu1~14.04) ) #1 Tue Jun
30 17:32:28 UTC 2015
[ 0.000000] Kernel command line: console=tty0
console=ttyO0,115200n8 bone_capemgr.enable_partno=BB-BONE-LCD4-01:00A1
root=/dev/mmcblk0p1 rootfstype=ext4 rootwait fixrtc coherent_pool=1M
quiet
[ 3.036329] usb usb1: Manufacturer: Linux 4.1.1-bone9 musb-hcd
[ 3.166983] bone_capemgr bone_capemgr: Baseboard:
'A335BNLT,000C,2115BBBK0347'
[ 3.167006] bone_capemgr bone_capemgr:
compatible-baseboard=ti,beaglebone-black - #slots=4
[ 3.222207] bone_capemgr bone_capemgr: slot #0: No cape found
[ 3.282234] bone_capemgr bone_capemgr: slot #1: No cape found
[ 3.342193] bone_capemgr bone_capemgr: slot #2: No cape found
[ 3.402194] bone_capemgr bone_capemgr: slot #3: No cape found
[ 3.408242] bone_capemgr bone_capemgr: enabled_partno PARTNO
'BB-BONE-LCD4-01' VER '00A1' PR '0'
[ 3.408252] bone_capemgr bone_capemgr: slot #4: override
[ 3.408264] bone_capemgr bone_capemgr: Using override eeprom data at slot 4
[ 3.408278] bone_capemgr bone_capemgr: slot #4: 'Override Board
Name,00A1,Override Manuf,BB-BONE-LCD4-01'
[ 3.408506] bone_capemgr bone_capemgr: initialized OK.
[ 4.436414] bone_capemgr bone_capemgr: slot #4: dtbo
'BB-BONE-LCD4-01-00A1.dtbo' loaded; overlay id #0
ubuntu@arm:~$ cat /boot/uEnv.txt | grep dtb
dtb=am335x-boneblack-overlay.dtb
I'm going to guess, you didn't set dtb=
Like shown under "BBB compatibility issues:"
Use blank overlay (HDMI & eMMC disabled) (/boot/uEnv.txt):
dtb=am335x-boneblack-overlay.dtb
BB-BONE-LCD4-01-00A1.dts
Disable: HDMI