OK. I've finally found some info on this issue! I remember in Logic 7 there was a setting to turn on/off the automatic waveform overview creation... But, in Logic 8 it is by default always on.
"Preferences/initialize all but key commands"
then try recording...
No problem Mikey! Just glad to help you find a solution :-)
I've got a copy of Omnisphere on the way...
Feel free to add your impressions of Omnisphere to the following thread. We'd all love to know more!