MediaElement now breaks media browser WYSIWYG

Prior to a code updates including core, and the media module I was able use the media module's media browser utility in the CKeditor WYSIWYG to insert audio files into the body field with the mediaelement module configured for the format I was using. It worked great - upload, insert, save, and play. But now, I can no longer insert audio files while the mediaelement is enabled. Please note that I can still upload and insert the same audio file if I disable mediaelement.

Additionally, if I edit a post where I had previously uploaded and inserted an audio file with mediaelement enabled (back when it was working), the html for the audio file gets stripped out of the body field. I can't see it in the edit form body field. And when I save my edits, the file is no longer in the post. This can be replicated by uploading an audio file with mediaelement disabled, and saving the post. Then configure media element for the format used, clear cache, and play the audio. Then edit the post and and poof, the audio file is gone.

Though the code updates that changed this functionality did not include the mediaelement module, the problem appears to be solely caused by this module, since the WYSIWYG and the media module appear to function perfectly when the mediaelement module is disabled. So, I thought this the proper issue queue to post to.