Sometimes I have this problem. A loud click, "project dropout" message, + 99.9db on a vu meter, white noise and the inability to continue working. The fix is easy - I just close the project and open it again.
The problem I was on the tracks with TB_ReelBus (e.g. master bus). When I bypass TB_ReelBus, noise and DC offset disappears, but the project is still not operational. In my case, the problem is solved just re-opening project.

Ok, when trying to export audio from one of my older projects, I not only get the click thing but a crash as well:
CWBRN-55955.

Just to revive an old thread - this is still happening for me on the latest 2017.01 build.
I can go for weeks without seeing it and then get it a lot in one day.
I haven't been able to tie it to any specific plugin(s).
 
Can someone remind me what they use on the master bus to catch it when it happens?
Some kind of limiter I presume? I am going to include it in my default template.
 
Thanks
ZT

Thanks for the info. I´m still running on 2016.12 and haven´t seen the issue the last few weeks. I´ll probably stay with this version until the pops return just to be sure.
 
So far, I haven´t found anything that would limit the click/noise to "normal" levels but it would indeed be useful. Anyone else?

Hello, sorry to revive this old thread but I didn´t find any more recent discussions about this issue. I resumed working on an old project which suffered heavily from this issue and despite new computer, some new hardware and Cakewalk being abandoned by Gibson, the issue was still prevailing.
 
However, for the fun of it, I tried disabling Hyperthreading (Xeon e5-1650, 6 Cores) and so far it seems to be working good. Hopefully it will stay this.
 
I haven´t tried the Bandlab Sonar release with respect to the issue but intend to do so soon.

It seems like when I've had this, it either had to do with Audio snap being on and/or 64 bit processing being enabled. Try un-checking the 64 bit processing box in preferences, and/or bouncing down any tracks using Audio snap. That +99.9db noise is so loud and can hurt your ears if your speakers are gained up.