If anybody stumbles on this, please find the details below -
As @Creator said, my changes did not get into the deployment package but the reason it was running fine in the Marmalade simulator does not allow to believe this. The reason was that the changes were getting in the .bin file correctly. But the deploy tool was looking for that file in data folder. There was an old file available and that was getting into my deployment package.
So I have to copy .group.bin file from data-ram\data-gles1 to data folder after running the application in x86 debug mode. Then build the deployment package for BlackBerry 10
For WP8, we have to copy .group.bin file form data-ram\gles2-dx11 to data folder.