SL: Time Machine Stuck in a Loop?

I installed SL a few days ago and had to rebuild my Time Machine backup.

It powered through all 700GB today... and then it kept going..


the progress bar got to the max: 700/700, then went to 700.02/700.02 ,, 700.03/700.03 ,, 700.04/ 700.04 ,, etc

Currently it's adding onto the "inprogress" file and filling up the drive with more data than I had to backup!

It's done 844GB out of 700.

Keep in mind, this is a totally-from scratch backup here!

Do I stop it? Do I wait until it fills up the drive and "figures it out" ?

 

I'm trying it one last time. Formatting the TM drive and letting it rebuilt. If this doesn't work, I'm switching back to leopard.