I installed the update about an hour ago on my Windows 7 64-bit laptop and it fixed the problem.
1. Reboot and open the Malwarebytes app ASAP before memory taps out.
2. On the Dashboard, click Updates, even if it says "Current." (The update took about 2 minutes.)
3. Click Updates again, just to make sure.
4. Go to Settings>>About and verify that the update package version is 1.0.3803.
5. Quit the Malwarebytes app.
6. Go to Control Panel>>Administrative Tools>>Services, select Malwarebytes Service, and click Restart the service. (You won't need to reboot.)
7. Check the Performance tab in Task Manager. Memory usage should be flatlined.