ID 250510 - Nuke Studio 10.5v1 errors when rendering a yellow comp container and skipping the option to render latest comp

Problem summary
Nuke Studio 10.5v1 errors when rendering a yellow comp container and skipping the option to render latest comp

Customer reported version
nuke.10.0v4

Customer reported platform
centos6

Steps to reproduce
1. Open Nuke Studio in safe mode
2. Import footage (footage I used shown in comment below) 
3. Add footage to timeline
4. Right click > Create Comp
5. Double click on comp container to open in compositing workspace
6. Add a Checkerboard node and connect a merge node to it
7. Connect the merge node to the comp (after the FrameRange node) and reduce the mix level of the merge
8. Open write node properties and render to timeline
Result comp container will turn green once render completes
9. Go back to the compositing workspace and repeat steps 6 and 7 but with a colorwheel node instead of a checkerboard
10. File > Save Comp
11. Switch to timeline workspace
Result: comp container is now yellow
12. Select the sequence in the project bin > right click > export
13. Select 'Process as Sequence' > 'Apple ProRes 422 MOV' preset
14. Export
15. At this point the Render/Skip/Cancel choice appears. Select skip. 
Result: the sequence exports incorrectly and shows the error: "Track_Alpha.a is not a layer or channel name"

Workaround
Use any version earlier than 10.5v1

Reproduced by support
Error occurs on:
Windows 8 - Nuke Studio 10.5v1
OSX 10.11.3 - Nuke Studio 10.5v1
Rendered image stretched oddly here as well.

No error on:
Windows 8 - Nuke Studio 10.0v5
OSX 10.11.3 - Nuke Studio 10.0v5, 10.0v4
footage renders fine in Nuke 10.0v4 and renders the yellow comp container contents rather than the saved nuke script version when selecting skip at render time (this is expected and the correct behaviour)

Expected behaviour
Expected 10.5v1 to render comp container as seen in viewer

Actual behaviour
Error message occurred and render had stretching artifacts