Bombardier have been trying to improve the ride quality of the M5000s over the last three years. It has improved greatly to be fair, but is still an ongoing process.
They have wheel profile issues as mentioned further up thread. This initially manifested itself as a low frequency hunting motion, you could actually see the nose of a vehicle coming towards you deviating from the centre line by about 6 inches in each direction. A change in wheel profile, and a step change in the pace of the rail grinding programme largely eliminated this issue. Unfortunately the new wheel profile has resulted in a high frequency hunting motion (the vehicle feels like it is shaking and bouncing) in certain areas. This is currently being looked at, and has resulted in a temporary speed restriction between Dane Road and Old Trafford on the Altrincham line where it was worst.
Some vehicles (3024 and 3105 onwards) have a different Damper set up, this gives a much firmer ride largely eliminating most of the 'bouncyness' at speed at the expense of low speed ride comfort. It was originally intended to roll this new set up across the fleet as and when vehicles came up for overhaul (first ones will be due in a year or two) however there have been issues with the new set up and I'm not sure if this will still go ahead.
It is worth noting that when the K5000s were ordered for Köln, they were intended for 100kph running. It was quickly found that there were issues with high speed ride quality and they were demoted to lower speed routes and replaced with Refurbished Stadtbahn B sets which they were originally intended to replace. It should therefore be no surprise that the M5000 ride quality is.... lively.
As for the ride quality in Croydon being better, that could be down to the CR4000s being low floor (lower centre of gravity etc) or it could have something to do with their track being in better condition.
The T68s had air suspension, which largely eliminated many of the track defects, so it wasn't as important to keep the track in 100% tip top condition, the M5000s feel every single dip and kink in the track however.
So yes, it is an issue, and yes, it is being worked on. However it's a bit like unravelling a ball of string.
(For those that don't know, I'm a Metrolink Driver)