It looks like the issue was with Profile certificate. Not sure if the certificate became invalid because of new Apple program license agreement or due to deep-link support I added to my application.
Anyway this was pretty frustrating. The problem I see here that the compiler and the publish process did not warn about the certificate issue and I just can guess what could be the problem and do trial-error approach to solve the issue...
In this case it took 2 weeks until I find that this is the problem :-(