After staring at my own Console, especially under Devices which deposits scores of lines of text every second, this strikes me as much ado about nothing. I don't think you can call sdbackupbytime "deranged" unless you can send a snapshot of your Activity Monitor and show that this process is using significant cpu cycles and memory. If you want to see a lot of activity, look at your Console under Devices and it will make sdbackupbytime look like a piker.
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