I don't what caused the issue but I think I have found a way around it...
If I select all clips that have AudioSnap audio (Edit | Select | All AudioSnap Clips), then disable AudioSnap on all the clips, I can save the project as a bundle (CWB). When saving as a bundle I get prompted with a message that indicates this will wipe out all cached transient edits and I click OK.
When reloading the project file (not the bundle), I get a message that it is re-generating transient markers.
Finally, I go back into the problem snare track and I have normal looking transient markers again. The problem is that I lost all my prior edits and have to start over with moving the markers.
I guess my transient marker cache got hosed up somehow and although it's a PITA, I have a way forward...