I had a number of similar issues with SI-Bass (although in the case of a Karaoke track, there could be SysEx messing you up as well). I also found that my MIDI buffer caused me problems with this instrument until I set the buffer higher.
This is not what you asked, but I bought three Scarbee basses from Native Instruments (Rick, Precision, and J-Bass), and the J-Bass alone covers 90% of my needs (with the disclaimer that SI-Bass sounds more like a Precision bass to me but not as live). I am a big J-Bass guy and use the Rick for special things.
The Gibson 5-String Craig created that is available in the Cakewalk store is also excellent and will probably do most anything you need. If I had bought it first, I may or may not have bought the Scarbees, but since I am most familiar with them, they tend to be my defaults.