You can find out what FW chipset you have by booting your mac and holding down "Command" and "s". It will have a whole lot of info but you will see the chipset somewhere. Just type exit when you're done and the mac will boot normally from there. This issue was logged with the manufacturer and users with the issue also had the lucent chipset.
As Gene mentioned, try it on another Macbook or even an iMac. Also try using the AC plug instead of it being bus powered...if that's an option. Also, remove the Integrator.component that is installed with the Konnekt 8 software/plugin. If all else fails, try the consumer FAQ. I'm sure other have had this issue.
Are you recording via Garageband? I am having issues with GB and I am honestly thinking of ditching it and getting a proconsumer app.