Yes, you are correct.
I just did a test on my localhost and is experiencing the same issue as you.
These are my findings.
I am running Evolve 2.6.6 with WordPress 4.5.2 and reduxframework 220.127.116.11 and woocommerce 2.6.1
The update cart button and proceed to checkout button does not work on shopping cart page.
I am attaching screen-cast of my test.
I have reported to my employer as well as our developers.
Please wait for fix in theme update.
Sorry for causing inconveniences.