That is the context sensitive help. It is common in many applications, including Safari, Mail, TextEdit, etc. I imagine there is some secret plist setting to turn it off globally, but I do not know of a setting for it. With the Apple applications anyway, it is pretty unobtrusive, but I would guess that opinion varies. Have you noticed the feature with other OS X apps? If not, maybe the timing setting for your audio software is unusually short. If that is the case, have you asked the developer? Sometimes there is an option to turn off tool tips.