I tried to get update_field to work during transition_post_status, but never could. I ended up switching to using the built in post meta data by using the add_post_meta function.
if ( $new_status == 'publish' && $old_status != 'publish' ) {
add_post_meta($post->ID, '_mykey', '123, true);
//update_field( "field_534dc7420db07", $value, $post->ID );
}
and then later when you want the value back:
$mykey = get_post_meta( get_the_ID(), '_mykey', true );
Oh, I just figured out it was working. They both executed at the same time (immediately), and then finished at the same time. I was doing a sleep and $().html(d.getTime()) to watch for two events. I was thinking I would see one ajax call finish, then sleep, then the next. But what I was seeing was the second one, since they finished at the same time.