Every 30-45 seconds NPC's and creatures glow yellow for a split second. I've, through a process of elimination, narrowed it down to this mod. I'm running BOSS, Bash, and OBMM.

That's probably a AOE spell effect caused by a mod, but it's a bit odd that Cobl would cause it. Anyway, if you have the UOP you can fix it via the ingame menu: startquest uop. There are also standalone esp's that will fix it, http://www.tesnexus.com/downloads/file.php?id=15677, for example.

Thank-you, Thank-you, Thank-you!