To reproduce:

$('body').bind('works', function(e, data) {
    console.log('proper args: ', arguments);
}).trigger('works', ['arg2', 'arg3']);

$('body').live('borked', function(e, data) {
    console.log('wrong args: ', arguments);
}).trigger('borked', ['arg2', 'arg3']);

Note that arg2 and arg3 are not passed to the callback for the live event but work properly on the regularly bound one.