Yes, my code looks almost similar to yours. Only difference is that at "do whatever with me" part I have a function call with "me"-reference as parameter. And that part doesn't seem to be the problem, because after this happends maybe two times everything starts to work without any spam to console.
It sounds like something hasn't fully initialized. Maybe the script could check for some valid condition before calling the function.
Yeah I just added IsReference check before calling function and now it seems to work nice and quiet. I guess GetFirstRef isn't that reliable after all.