Speaker/Play/Scrub Tool

On an Audio part, my volume gradually turns down with each click of the speaker tool. Either in the Project Window or Sample Editor. Highlighted audio in the Sample Editor behaves the same way when triggered with the speaker tool or space bar. The fader in the Sample Editor is all the way up and I’m not using Control Room. Playing from Enter will reset the level but it’ll drifts right back down as the tool is used.

If I turn ON Control Room and monitor through that the problem goes away. I never really needed Control Room and it seemed like an added layer of complication, so I didn’t use it. And I’d rather not now.

Never had this in previous versions. Can anyone confirm this?

7.0.4
Mac OS 10.7.5