Trying everything, I booted Lion on an external drive (image) and ran Quicken 2011 with CrossOver 11.2. Restored my data from a thumb drive and everything worked without any problem during a test lasting about 40 minutes. Did most everything in Quicken I would normally do including running reports, updates, etc.
So between CrossOver 11.2 and 12 and Lion and Mountain Lion Quicken seems to have gotten into or caused trouble. Not a scientific analysis by any means, but maybe a temporary solution while things get straightened out.
I don't remember what running CrossOver 11.2 on Mountain Lion was like, but I did have problems with printing from efax until 12.0
I hope this gets fixed fast.