It doesn't seem that the event is repeated - when the event starts, there will be "Starting event" log entries, but there are non on your log screenshot. What happens is that it appears that it have nothing else to play, there's a single "BOB'S MILK SHAKE" file in the playlist and it plays it over and over. You can confirm if that's the case if you open the Overview tab.
You need to enable the "Insert as regular music tracks" option for music events - that is, for the tracks that you don't want to be removed from the playlist. For break events, like "BOB'S MILK SHAKE" this should be dsisabled as I suppose you need it to play once and then get deleted.
In your case, the opposite happens, because of the "Insert as regular music tracks" enabled for "BOB'S MILK SHAKE" this file stays in the playlist, and because this option is not enabled for the music, it's deleted.