One thing I do have is a constant "MySQL" component update, even though the update runs through successfully it still shows are a component update.
Sorry for bumping an old thread, but just wanted to share some of my findings to this issue for people looking for a solution.
The constant MySQL update notice is because the updater doesn't install the MySQL update in the same location as the existing MySQL installation. The update instead takes place in the default MySQL Server installation path, and if that differs from the one used during Plesk Panel installation (and it usually does), your existing installation is not updated.
In other words, it looks for an updatable version in the location used during the initial installation, and since this isn't the one that's actually being updated, it will display it as not updated..
This bug in the Plesk Panel updater actually destroyed my Plesk server, and Parallels spent several days to fix it. Looking thru the logs, I have confirmed that this error actually happened during upgrade to 10.1.1. Later upgrades (to 10.2) did not fix it. In my case, a new MySQL server installation was performed in the default MySQL Server installation path instead of the existing one, but the databases for Billing, Sitebuilder and user databases was not moved accordingly, leaving them unusable.
I am waiting for Parallels to confirm my findings. Since this happened when I updated to 10.1.1, and we didn't see it before updating to 10.2, I am not sure if the fixed this in the 10.2 update. If Parallels don't confirm that they have actually fixed it, I would not recommend anyone updating Plesk to 10.1.1 or later.
BTW: The Plesk Panel itself worked fine after the update since it is not depending on MySQL, but Billing, Sitebuilder and user installed MySQL databases did not. I do believe that moving the databases to the newly installed MySQL server instance would have fixed this, but I'm not sure since it seems that Parallels for some reason chose another approach when they fixed my system.