Green frames when exporting QuickTime Movie from FCP

I've encountered a frustrating and persistent problem: if I export a movie from timeline with Export > Quicktime Movie (using "Current settings"), I get green frames in the movie wherever anything was rendered (e.g. transitions).

For some reason, this problem goes away if I check "recompress all frames" however this is not a desirable solution since this cuts the data rate by a factor of ten, thus noticeably reducing the quality.

Please let me know if you have any advice. Thanks,
Brendan

Set-up:
Final Cut Pro 7
2.2 Ghz Intel Core i7
4 GB 1333Mhz DDR3