I've been playing Demolitions a lot and I've found some bugs with selecting what equipment to use and what I actually spawn with.
Selecting this equipment:

• M16A4
  • Explosive Launcher
  • Compensator
  • Flipup Sights
• M005
• AT4
• M67 Frag
• Light Carrier
• Light Armor
• Combat Knife

I spawn with this equipment:

• M16A4
• M203 Explosive
• M005
• M67 Frag
• Combat Knife

I think it has to do with the Explosive Launcher attachment because even switching out the AT4 to a smoke grenade only gives me the M67 Frag.
This also happens on the other team as well, so it's not just a Security issue.