The “CylindricalUVs” material function is currently bugged in 4.4 and only works if object is at 0,0,0 in world space.
Here is what’s missing:
Extra info to repro this issue:
This is easiest to repro on the EditorCylinder using the minimum nodes required to use the node (as from documentation page Texturing | Unreal Engine Documentation
Place the cylinder at 0,0,0 and (make sure you use the “Cylinder Projection” output and not the one that used “w Top” to get a very clear view of the bug.
Move the object away from 0,0,0 and you will see it us wrapping the UVs around 0,0,0 instead of object center.