Spoke to Cakewalk tech support tonight about another issue but brought up the humanizing mfx while I was on the phone with them.
mfxlookahead only has to do with how soon a change that you make in an mfx, while playing back, kicks in.
The humanizing mfx, and the dropped lead note that I was experiencing when freezing has to with the midi buffers settings.
I double checked mine and it is set at 2000ms, not 2500ms as I stated previously.