More detail:
1). I tried restoring my presets I had backed up before v5 came out (full bank restore). Same result - unit freezes up.
2). I tried re-initializing the amp block. No help, still freezes.
3). The first thing I tried after the first freeze was to shut down Axe-Edit and disconnect the USB cable. No help, it still freezes.
4). With no USB\editor connected, it takes roughly 3 to 6 minutes to freeze up. While it's running before the freeze, it seems to work 100% fine. I can tweak parameters from front panel, even the DYN tab, and hear the results. When it does freezes up, it doesn't seem to matter what block I'm editing, or if it's on the main screen, or if I'm actively tweaking or doing nothing. After 5 or 6 minutes, it just freezes solid.
5). With Axe-Edit connected, it freezes immediately when I select the bad presets. It also freezes on launch if the II is currently on the bad preset (source Axe-Fx) If the II is currently on a stock preset, then it launches and works fine.