Latest Update has ruined any audio clips with effects

I did the latest update and now all of my projects seem to be broken. Any clip that has audio effects is making an awful glitching noise. It sounds like the old "alien envasion" noise from back in the Napster days. 

If I remove all effects on the audio of the clip, it fixes it and sounds fine. Has this happened to anyone else?

The projects were fine before the update. 

It comes through after export also.