Unfortunately, that seems to be one of the risks of buying the cheaper radio triggers. They're just not known for reliability.
When I read your second sentence, my first thought was "change the batteries" but you already did that. You might want to make sure that the channels on the trigger and receiver are set the same, you might have accidentally changed one.
Other than that, I don't know what to suggest, other than biting the bullet and buying a set of Cybersyncs, which is what I did even though my Cactus V2s were working just fine after 12-18 months of use.
Edit: Oops, I see you're in Australia, don't know if Cybersyncs are available to you. There's a Korean company that makes radio triggers which from what I've heard are pretty good. That might be an option. Here's a link to their website:
http://g9chon.com/
Sorry I can't be more helpful.