Amazon EC 2 - What you may not have known
blog.codesta.com
blog.codesta.com
DNS data gets cached at many layers, and often times caching DNS servers won't honor extremely short TTL's, they'll default to caching data for at least 4-24 hours. So while your DynDNS info is updated, you can't rely on the fact that the rest of the world is going to be similarly up-to-date.
A better solution would be to break down an actually host a machine someplace where you can count on it having a static IP. Use Apache, haproxy, pound, squid, or a proxy of your choice to manage the dynamic IP's of your EC2 machines. Connections come into this static machine and are dispatched to the appropriate EC2 machine.
There is really no reliable way to have a 24/7, "5 nines" sort of presence relying solely on EC2.
but here is a caveat, dynamic DNS servers do not rank as well with spam filters as static DNS.