It's a total pain, I have the same problem. Sometimes I can turn off external monitoring, I have a matrix mini. And that will solve it. A new time line worked once. Re-booting use to work that seems to have stopped too. Another solution that has seems to have ceased working is jus t rendering smaller portions of the timeline.
I sometimes will export footage that his being blown up or color corrected, then add the text. And I stack these things i the timeline so when it's time for sending to the real CC suite, I can just blow away those upper tracks. Imean thee are deadlines to be met, this stuff needs to be viewable to edit. I call the pre-renders.
So more and more I having to do these round trips with fcp, so sometime I just send the footage to motion and do part of it there. You then need to bring in the QuickTime, because this problem will happen with th motion files I the timeline A Lot.
I cut feature films, and my projects are big and complex I cant start going through them and taking out stuff. Kinda defeats everything I do.
As near as I can tell it does seem to happen on bigger more complex projects. I keep them below 65 Meg's my projects. Old timelines have to go into a timeline archive project.
This is obviously not a problem with ram or hd memory, it's video card memory. My Mac pro has the smaller video card. And I think one of the updates just has a flaw in its driver for the card, and it isn't flushing video memory or something or it has a memory leak, or it has some memory reserve for iTunes. This is just another reason why I'm transitioning to Avid. Where this problem does not exist.