This only seems to be occurring on VS 2012 and it's not the Analysis engine. It's DevEnv.exe that seems to eat up memory and then never goes back down. In addition, if I switch the project to .NET 4.5 then everything that is "inferable" errors out.
As an example, in .NET 4.0 this evaluates ok:
For i = 1 To count
In .NET 4.5 JustCode throws an error and requires me to put:
For i As Integer = 1 To count