That's Avid's position at this point. Apparently the issue is unique to the Windows platform though, so if you have a Mac, hopefully the issue isn't occurring.
They have cited this knowledge base article as the issue I am experiencing:
http://avid.force.com/pkb/articles/e...n-Pro-Tools-11
They also acknowledged that this issue can come and go intermittently without apparent cause. The issue has been known to Avid since at least July 1, 2013 (that's when the article was last updated). My hopes aren't high that it will be addressed anytime soon. I'm also concerned if they can't be bothered to fix such a glaring issue with one of their own interfaces if they will even be supporting the 11R with the next version(s) of PT.
I probably wouldn't have upgraded to PT 11 had I found this before upgrading. I did double check the system requirements and the interface requirements before deciding to upgrade. Shame on me for assuming that a Pro Tools 11 Approved interface would work properly. I would think an issue of this significance would at least warrant a note (something to the effect of "this is approved, but you can't monitor tracks properly when recording") on this page:
http://avid.force.com/pkb/articles/e...nd-Peripherals