I'm testing a theory at this point. It seems to be most frequent when a lag checker I built kicks in during a disconnect. mIRC will attempt to reconnect but then my script will kick in, doing "!server (network name)" and at that point, the list seems to be restored to the default list.

Also, the area that the application is stored is on a FAT32 partition, which is separate from the Windows install. This is so that I can backup and easily restore mIRC, it's logs and other things quickly, with no importance to other things.