This one is a little beyond me, so I took it to some of our R&D engineers. Without more in-depth testing, they were unsure of why LabVIEW would throw any errors. Although not explicitly unsupported, they agreed the use of thread local variables might not be the best idea. I will document the error and have them look into handling this situation in later versions of LabVIEW.
The general consensus, however, was that going with your second option would not noticeably increase execution time. Removing the static keyword is probably your best bet at this point.
Thank you for bringing this issue to our attention and helping us make LabVIEW a better product.
Robert Mortensen
Software Engineer
National Instruments