I have performed a factory reset on both extenders, each confirming on the screen the factory reset was occurring.
One of the extenders has reverted to Software Version : 220.127.116.11
The other extender is still on Software Version : 3.1.1.00
The extender that reverted to the old software has no longer has the issue. The extender that is still on the current software is still exhibiting the same issue, random crashes requiring a power cycle with MME Communication Failure.
There is no more troubleshooting to be done on my end. It is PROVEN that this issue is directly related to buggy software in the recent update. Verizon MUST FIX THIS ISSUE ON THEIR END ASAP!!!