I had set one load out to my original Thaum build on my CW and set my second to Renegade. When I switched between them my original Thaum load out copied the Renegade loud out entirely and they are now both identical, which I think beats the point
I also cannot change between load outs when I am inside dungeons or skirmishes. It would be nice to be able to do that so I can switch between single target for bosses and AoE for adds, as well as buffs or dps depending on the group etc.
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And it's easy to switch loadouts in dungeons: every dungeon have campfire just before boss (last boss at least).
There is a small delay when switching.