You have the 7.4 Vortec, right? I wouldn't worry about it not occurring in open loop, the ECU is not even using O2 data in open loop as it warms up.
See if you can record or screen shot the fuel trims, spark advance, all 4 O2 sensors, and at the same time looking at fuel pressure when it does it. What are your fuel trims anyway?
Yea 7.4 Vortec with 'mods' done by an owner 2 or 3 people behind me. The previous owner didn't know much about what was done but everything looks really professional from the outside... mandrel bent exhaust, all new body mounts, feels like a Detroit locker in the back, etc.
I'll see how much I can log, I just got that scanner yesterday and was just playing around with it and so far I think it can only log 4 data streams at a time but I'll play more tonight.
I do not know my fuel trims but I will post them up once I get home.
I'm just wondering, why should I log the downstream O2s? I thought those were just monitors for the cats and only cause a CEL to pop on?
Thanks again for all the help!