I've never had this. Is this M5 sequence something you exported out of M5 and then imported into FCP? Could you export it as a movie out of FCP and then import that into Compressor?
Kind of a vague explanation form Editcodes: Indicates failure to write a file properly (which you knew). Suggested actions (again from Editcodes) change the disk you're writing to; disable 3rd party plug-ins.