Completely dry. No effects, no compression, etc. The waveforms appear correct, it just seems to start playback about 1/8 second in. I was going to try to dump the audio to a mixdown and see if it’s just a playback issue, but I haven’t had a moment to do that.
What happens if you insert the HR22 (dithering plugin) to your master bus? Some D/A chips have gates that cuts the signal while receiving digital silence and can be troublesomely slow to open. On the other hand, Logic should also have given you the same problem, unless it has some kind of automatic dithering or you’ve switched hardware.
Great! The only reason I suggested that is because exactly the same thing happened to me last week. But I didn’t discover it till I played the CD! I’m not sure why it happened though … maybe too fast an attack/slow a release/and not enough make up gain? I’m only guessing.