if you did not run out of memory, could you provide the scene?
Unfortunately I can´t, with that scene at least :( To be more precise re:memory, Corona can usually parse/render scenes fast even when my 32gig is completely drained, but here the scene was using mere 25gigs and the problems occured.
I´ll try to recreate the problem tomorrow with a fresh scene if I get the time. But really the only thing that changed was the proxy objects which I had to redo for 1.2.1 since the ones done with daily versions apparently aren´t backwards compatible.