Dear John :
Umm.... It should work. Did you identify what layers the new contours are on? You need to select Modules | Configure | Elevation Layers, which will display the Configure Elevation Layers dialog box. Then, make certain to mark USE for the all the layers that contain elevation data.
Note, also, that the digital terrain model can get confused if you have overlapping elevation contours--such as original topography and proposed topography. You will need to merge the elevation data such that there is no overlapping elevation data prior to performing the floodplain mapping. Otherwise, RiverCAD will not be able to make sense out of what the "true" ground terrain is supposed to look like.
If you have any additional questions or need any further information, please contact me again.
Sincerely,
Chris E. Maeder, M.S.
Senior Technical Engineer
chris.maeder@bossintl.com