Hey guys. Just to give an update. I've been having the same problem couple months back, and my watch started working fine again all of a sudden, without any update that i could've noticed. I realized it the first time when i took a trip to a different state here in my country (brazil) and one time when i was at the beach i tried out to see if the watch coud find a gps fix in "Wear gps fix" (you can download at the play store) and the watch found all of the satelites available almost instantly.
I read some dev somewhere explaining that sometimes the watch can loose track of the satelites (like a bug or something) and you can use some apps to try to force gps tracking until it can find the satellites again, it even recommended leaving the watch all night triyng to track it.
I tried this at home all night and it did not work, but one day i tried in a different location (few hundreds kms from home, at the beach, cleat sunny sky) and it started working again.
Dont know how, but my experience may help some.
