One of the latest patches brought us same problem. It was so surprising for everyone to contemplate "Your guild has reached renown level 1" or something like that right after killing the raid boss. Petition was sent immediately. But as it usually happens after few hours of waiting we hadn't been still awarded with GM's reply. So another petition was sent next day. After scrupulous study of the screenshot GM finally learned the difference between renown level and renown rank and promised to report this problem to developers. "Sorry for inconvenience and have a nice day with Age of Conan" - nothing has changed since that time. We had already had renown level 7 but somehow it came 5 few days later.
We "Iron Will" guild need you Morrison to get our renown level back! Do something!
I think you won’t get any problems to find us here:
http://guilds.ageofconan.com/
Sending this message from work. So if you need the screenshot I'll attach it later.