There is a thread happening elsewhere with more details on another forum:
http://forum.feed-the-beast.com/threads/exception-ticking-world.33617/
An effective workaround for now appears to be setting difficulty to 0 (peaceful) and spawn-monsters to false. The bug appears to be in a chunk of code that does some funny stuff when mobs spawn, so this prevents that from happening. This got my server back up and running!