I no longer have the console in my possession to test with, but this was a v2.5 everdrive using the Game-Tech board, which is the single chip design. It was definitely a weird issue and the only time I have ever seen this before. Normally I remove the 2 chip designs if I come across them. I do appreciate everyone popping up in here with their comments though.
As a side note, the owner has told me that he has not seen any of the issues I described and he does have an earlier v2, so maybe it is my drive specifically.
Thanks everyone!