It's happened with two different models so far, one from 3D Sky, the other from Dimensiva.
I've just tried again with one of the models and it didn't happen, so it's not consistent either.
I seem to have a knack for finding inconsistent seemingly random and impossible to pinpoint bugs :)
Edit: Might be something, but previously when it's been happening, I've had multiple instances of Max open. When I tried again just now I only have 1 instance of Max open