Once I opened the composition up and started turning layers off, I found that the problematic layer was a solid that had CC Particle World as an effect. Nothing very crazy, radius of 3.00, and particles 10, with a life of 2 seconds.
The issue was that it had Motion Blur enabled. I disabled motion blur on the project toggle switch for that layer, and it worked fine
So I figured maybe I needed to force motion blur from within the CC Particle World plug in (Options, Rendering, Motion Blur). It had the same affect (infinite loop of After Effects trying to render).
Not sure what the deal is; but it seems as if I can no longer use Motion Blur with CC Particle World.
Any advice?