Ohhh for the first time I'm able to reproduce this problem 100% of the times!
Please confirm you can do this as well so I can send a problem report.
Here's how I do:
TURN YOUR SPEAKER VOLUME DOWN!
Create a new blank project
Insert an audio track
Insert VX-64 Vocal Strip
Activate the Tube Eq section
Clone that track 4 times
For me, this create the issue everytime!
Please someone confirm it is reproductible, if so maybe cakewalk will be able to find the problem.
It also happen on other occasions than cloning tracks but maybe that will be enough to track the issue!