if you do pex --repo=/tmp/path/to/my/repo -r req and that requirement gets pulled into $PEX_ROOT/build, subsequent calls to 'pex -r req' will resolve to the version in $PEX_ROOT/build if 'req' is ahead of the PyPI tip. this is unexpected default behavior. the pex tool should only do this if --cache/--cache-ttl are both specified.