Can't consolidate MIDI, each event is it's own entry. Consolidate audio just makes the track so the trigger events (that make the audio recordings play at the right time) get turned into one event by combining the audio sections so one trigger event plays it all.
In the old days, (around PT5 or 6) we could manually move the trigger events in the Event list like they were midi events. <grin> That's how some of us old timers 'slid' the audio into time. Nowadays we just grab it and nudge it graphically (or copypasta which is the oldest method).

Yes BBW2 is a PGProgram that runs inside RB. I think it has to do with the styles and realtracks selections but never tried researching it. Wonder if setting the processor priority to 'background services' would help. (?)
FWIW it has only happened here during Beta versions. But is has happened more than once and I could replicate it IF I left the browser open.. I figured it had to do with the fact it was a beta version and likely had things like range-checking running too.