@Steven...
I have still not been able to reproduce the issue I stated in my OP. I have tried many times during the day and never once has the warning appeared. This is with the debug version you created for this issue.
I am going to update to the latest 3.4 patch and see what happens.
Hopefully I'll never see it again. If I do, I'll have a backup of the album I'm working on and will reinstall the debug version and overwrite the tracks with the original unedited tracks.
EDIT: I know you haven't changed anything regarding this issue but I just patched to 3.4.7631 P and used the Tag Inspector to edit some tracks from two of the albums that caused me to open up this thread and not once did I see the warning.
I'd be curious to know if any folks who said they've seen it before see it now.