Try using the context classloader instead of the class' class loader since you are not bundling the resource in the jar with the class (if I read your description properly).
Thread.currentThread().getContextClassLoader().getResourceAsStream(...)
Do you by chance have this jar in another web module or perhaps in a WebSphere Shared Library folder? Since the behavior you describe is null and not just the old file value I'm less inclined to think caching is involved and more that you're just getting a different class instance than the one you think and because you're using the classloader of the utility class itself, the properties file in the WEB-INF/classes of the web module isn't being found.