Hi Al, I haven't been able to reproduce the problem.
I'm using the following code:
Month.aspx
<asp:ScriptManager ID="ScriptManager1" runat="server"></asp:ScriptManager>
<asp:UpdatePanel ID="UpdatePanel1" runat="server" >
  <ContentTemplate>
    <DayPilot:DayPilotMonth
        ID="DayPilotMonth1" 
        runat="server" 
        DataEndField="AssignmentEnd"
        DataStartField="AssignmentStart" 
        DataTextField="TaskName" 
        DataValueField="AssignmentId" 
        OnEventClick="DayPilotMonth1_EventClick"
        EventClickHandling="PostBack"
    />
  </ContentTemplate>
</asp:UpdatePanel>
Month.aspx.cs
    protected void Page_Load(object sender, EventArgs e)
    {
        if (!IsPostBack)
        {
            DayPilotMonth1.DataSource = new DataManager().GetAssignments(DayPilotMonth1);
            DayPilotMonth1.DataBind();
        }
    }
    protected void DayPilotMonth1_EventClick(object sender, EventClickEventArgs e)
    {
        throw new Exception("e.value: " + e.Value);
    }
It works as expected. Please let me know if you find anything that might give different results.