Let's say at level 2, I choose to learn the feat Skill Training and add a +5 training bonus to Dungeoneering. Then at level 11, I retrain it with a Paragon level feat. Do I then lose the training bonus to Dungeoneering?
Yes, you lose the training (assuming you have nothing else that is granting you training). The feat grants you training in a skill, and if you retrain it you no longer gain its benefits.
\$\begingroup\$ Would you then get to pick a new skill for the Feat to affect? Or is the Feat lost/wasted at that point? \$\endgroup\$– RayanthAug 19, 2016 at 4:38
3\$\begingroup\$ No, since you no longer have the feat. \$\endgroup\$ Aug 19, 2016 at 5:19
1\$\begingroup\$ @Rayanth Retraining the feat is effectively replacing it with a different feat. It is lost, but you gain the other feat you retrained into instead. \$\endgroup\$– ZhugeAug 19, 2016 at 5:45
\$\begingroup\$ My apologies, my brain for some reason was interpreting the OP's question entirely wrong. I thought they were asking if you retrain the skill that the feat is affecting. \$\endgroup\$– RayanthAug 19, 2016 at 22:33