Shane,
Yes, odd indeed. Its has my wheels spinning for a few days already. The media comes from P2 media originally. We were running 6.5.0 previously and Avid gave me 6.5.4 claiming the bug was addressed in this. Turns out it was not fixed. 🙁
They are able to duplicate the problem on their end so I know my machine is not the issue. I have also tried different files with the same result.