Alchemy lvl cap reduced from 4 to 2 => this probably happened due to a book you opened in Act 4. It was in mage Markunthar's cupboard and had alchemy. I warned about this in the Alchemy thread - sorry. But due to new game features in the 1.4er patch versions, some books now cause this trouble:
If you have a higher leveled skill and do not max out with skill pts, opening one of these books will reduce level cap. Very tragic in the case of alchemy (from lvl 4 to 2)

Clincher => depends on your lvl and the enemy one. If your lvl is too high, game balance pops up, you get less or no XP. Which lvl are you, please?