Thanks for the info - much appreciated. The only apparent variables in our systems are that I'm still on OSX 10.6.3, and you're on 10.6.4. Other than that, our systems & software versions appear identical.
FYI, I've tried this with instruments other than Omnisphere; I've also tried Kontakt, PLAY, Vienna Instruments, etc. It happens in both 64-bit and 32-bit mode in Logic as well as 32-bit & 64-bit VE Pro servers, and also locally-hosted vs. slave-hosted VE Pro servers. Same result no matter the combination.
Can you tell me your Logic pref settings? I've got latency comp. set to "all" but that didn't seem to affect results either...
Thanks again - I'll keep digging further!