Really?
i'm on:
Microsoft SQL Server 2008 R2 (SP1) - 10.50.2500.0 (X64)
Enterprise Edition (64-bit) on Windows NT 6.1 <X64> (Build 7601: Service Pack 1)
seems there are some more issues with sp_refreshsqlmodule
see : http://www.sqlservercentral.com/Forums/Topic1425656-391-1.aspx