I just noticed a strange situation; maybe it is a bug or can be explained some other way.
This is a screenshot of what I see; the top part is from Stack Overflow, and the bottom one from Meta Stack Overflow. I figured they should probably show the same values.
Well, it has been 24 hours now and the reputation matches but I think this is probably just a coincidence since I happened to get a couple of up votes this morning on SO. The badges are still showing as different (the second badge on MSO was earned about 8 days ago now surely that is very old for a cache isn't it?).
So when I updated this message I got the editor badge which made my badge total on MSO 3 and so now both sites agree.