I've noticed this too.
 

Yeah, we are seeing the same behavior here as well.

May have nothing to do with it but... I only recently started actually using my X2 install and in the 1st project I started I got half way through before I noticed that even though my asio settings were for 24-bit, my tracks were being saved in 16-bit. I found the setting (in "preferences/folders" somewhere?) and reset to 24 bit. A while later I noticed that everything recorded prior to the switch was clipped at -6db. I opened in sound forge just to be sure and saw the same thing. Damn, lost all my work I though. Re-recorded my tracks and then noticed a funny thing... the original tracks weren't displayed as clipped anymore. 
 
So, any chance you changed your folder/wav file resolution settings (figure a lot of people might since they will be fresh installs of x3).... just a stab, but weird to see someone having near the same issue I just had with x2.

CareyLetendre
I've noticed this too.
 

That is clearly a shot of Sound on Sound recording where none of the clips are muted so the comp clip will sum the amplitudes. Only if you have lanes muted (not visible in this shot) will you not hear this summing as well as seeing it.
 
I guess there's an argument to be made that muting a lane should subtract its amplitude from the comp clip in the same way that clip muting does. But if you use the comp tool and clip muting as intended in comp recording mode, you shouldn't see this kind of discrepancy (notwithstanding the OP's example which might be an actual bug).
 
EDIT: Correction. I wasn't in front of my DAW when I posted that. I just checked, and muting lanes is properly reflected in the comp clip just as muting clips is. If you're not hearing the summing displayed in that cropped screenshot with no clips muted, I'd want to see the full context.
 
 

CareyLetendre
I've noticed this too.
 

 
That one is what I'd expect to see. All of the take lanes have audible clips in them. The comp take at the top is showing the sum of those lanes.
 
EDIT: Doh...... sorry Brundlefly, I'm duplicating your post. NOte to self...... read whole thread before posting.

I'm currently taking a deeper look into this issue. If you guys have a step by step or a formula for reproducing this in a brand new projects then please share so I can get a concrete understanding of this. 

Dan Gonzalez [Cakewalk]
I'm currently taking a deeper look into this issue. If you guys have a step by step or a formula for reproducing this in a brand new projects then please share so I can get a concrete understanding of this. 

For the others who are interested, I sent Dan the project that produced this problem, and it is similarly misbehaving for him.  But I cannot recall the exact sequence of things that produced the problem.  I'll lay out some things that are a little out of the ordinary with this project, hoping that one of them might trigger a thought or two:
 
1) The project was created under X2.  It was MIDI-only under X2. I recorded the audio track after upgrading to X3.
 
2) When first recording, my project was in sound-on-sound more.  I changed to comping mode after I had already created 2 take lanes.
 
3) After recording my takes, I didn't follow the recommended speed-comping procedure at first, as this was my first use of the comping feature.  I tried to promote phrases using the mouse.  I believe by that time, I was already seeing the strange waveforms.
 
4) At one point, I used the split tool when I probably shouldn't have.
 
5) After I figured out the recommended work flow for auditioning the takes, I breezed right through it, but the damage was already done.

Thank you, we have been able to reproduce this and are looking into it further.