Update:
I pulled the SSD and replaced it with the old HD. All is back to normal, with the caveat that I'm now back on OS X 10.10.4, running fine through multiple boot-ups over the course of a full week. This rules out any issues with the HD ribbon cable or MBP hardware in my mind.
I tested the SSD with both Disk Utility and Disk Warrior - neither can find anything wrong with the drive. It has not shown any signs of failure (I've got it in an external case) even after multiple power/disconnect cycles. Granted, it's not simulating a MBP boot-up, but I find it very hard to believe that this SSD is failing.
I would like to point out two circumstances, for what it's worth:
1. This error started only after I upgraded to 10.10.5. Coincidence?
2. My MBP has always been configured for dual boot (OS X, Windows 7) with Boot Camp. Could it be that there's a problem with Boot Camp after the OS update?
Thanks again for the help!