That is odd looking - maybe like it is switching back & forth between the EQ on the Channel and also a Comparison Channel. The only thing I can think of (and this is really grasping at straws) is that a Control Surface has a flaky button that is switching between 2 states.
actually I noticed that even the PC keyboard has a strange lag (for example when I press the space bar to start / stop the track, or when I go to type the names of the tracks), maybe yours is a good point to investigate
[SOLVED]
This morning I had an epiphany: that it was something related to midi.
I disconnected and reconnected the midi cables behind my UR44C and as if by magic everything was back to working properly!