IoXT Stuttering in Premiere Pro

I have an IoXT connected to a 17" MBP, 2.3Ghz Quad-Core, 500GB 7200rpm drive. I am using Premiere Pro CS5.5.2.

For some reason when I try to fast-forward or rewind from a paused position, the Program Monitor in the Premiere Pro interface stutters before it actually fast-forwards or rewinds. It will stutter the exact amount of times that I hit the J or L keys. So hitting the K key three times to fast-forward at 3x speed will cause the program monitor to stutter three times respectively. Likewise with the J key for rewind. The output monitor however, which is hooked up via HDMI from the IoXT does not stutter. From what I can tell, it just waits for the Program Monitor to stop stuttering and then they remain in sync through the fast-forward or rewind.

Any help would be greatly appreciated! Thanks!

Panasonic HPX170 P
2011 Macbook Pro 17", 2.3 Ghz Quad Core, 8GB RAM
AJA IoXT
Adobe Premiere Pro CS5.5, Final Cut Pro Studio 3, Avid Media Composer 3.5.4
The College of WIlliam and Mary