The volume macro on a sound effect instrument must end with a 0 for it to not loop.
Yes, this is another barely documented quirk.
What does the volume macro look like?Okay, that solved part of the problem. But the sound effect is not playing correctly still. It sounds like the end of it is extending far too long. It's supposed to be just a real quick "swish", but instead it's like "swishhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh"