Yeah, I tried that. :( I tried the TTSSEQ.ini option of mfxlookahead, and setting Preferences > Midi > Playback and Recording's buffer to > 250. Neither of those worked. These MIDI effects worked just fine in X3 and my other DAW, so I know it's not my machine that's the problem.
I've spent since last night on it and I can't figure out why Platinum is giving me this issue. The one MIDI plugin I'm trying to use is called "Frank's MIDI Humanizer" and it's REALLY good at what it's supposed to do with some options that aren't in other humanizers, that's why I'm trying so hard to get this work correctly.
This issue is present with any VSTi that uses any humanizer mfx on it's MIDI track, including Cakewalk's (I tried it).
Without any MFX, the MIDI playback works as expected.