Development was able to reproduce this in their labs. Some of their findings:
In this instance a maintenance plan that backs up several databases is indeed ”hanging”.
The logs appear to show the engine crashing at the location trying to appending\processing of the file containting the informaiton for speed up Object Level Recovery.
ST116627 created in StartTeam to address the issue.
This is fixed in LiteSpeed version 8.0.3 and addressed in LiteSpeed version 8.1
Temporary workaround is to disable the flag for OLR Optimization until and upgrade to 8.0.3 can be done.