OK folks here is the latest results from my experiments. Sorry it took so long but I got an emergency call to fix a network. I knew I should have taken that tin foil hat off....it attracts problems ;-)
My latest experiment was to replicate my problematic project that was running at a 96 Khz sample rate and see if I had the same issues with the Octa-Captures set at 44.1 Khz. My hope was that if it worked fine at 44.1 Khz I would sacrifice what is really an unnecessarily high (for me) sample rate to be able to run both units together as before. Oh the fun and joy converting a project over to a new sample rate. I will spare the horror in this particular thread and just get to the conclusions.
The same problem occurs at 44.1 Khz as at 96 Khz. I get awful popping and clicking indicating frame drops and/or clock slips between the Octa-Captures with the VS-Expand option selected. I could mask this by putting my buffers up to 256 which would give me an 18 ms latency number but that really was only masking the problem. Anything less than 256 buffers at 44.1 Khz with VS-Expand selected in the driver options of the ASIO Control Panel caused badness.
When I uncheck VS-Expand I lose my ability to see my expansion Octa-Capture ports. The problems I was having with the audio go away completely and I can run the exact same project without any dropouts with 64 buffers. I have a very fast CPU so the additional interrupt overhead did not make a meaningful difference in this scenario. I never got a single core above 35% or so. Note that the two Octa-Captures ARE still sending data over the SP/DIF port because I have configured them from the panels to have VS-Expand enabled. My master Octa-Capture sends all the audio to the slave Octa-Capture which is in turn hooked up to my amplifier. This is different from the driver mode setting of VS-Expand. I am going to guess that the Windows driver ultimately will be the faulty software for this setup. I know this is very confusing. Flatly, Roland blew it on this one.
So, for those interested in upgrading to V1.5 I would say you are perfectly OK as long as you do not have to link your Octa-Capture together with another Octa-Capture through the SP/DIF port. If you have to link your devices I would say stay away from V1.5 like the plague.
I hope this has been helpful.
Ken