A few questions -
Is there a g41 or G42 ahead of the line where this happens? I have had a couple times where I got strange results because of something not quite right when I used Cutter Left/Right. Not lately, not sure whether the problem is gone, or I am just writing better gcode...
Have you tried going to the toolpath screen and hitting Simul;ate Run - I have had a few times where this cleaned up the display and made things run better.
Is this on the first run of the day? If the machine was not in a good position when you started you might want to move it to a good area in the middle of travel and then exit and restart Mach3.
Can you post the code so we can see what it looks like?
Does the Z display show agree that the cutter is way below zero or is it at some bizarre position? Could be you are starting with bad values in one of the g54 through g59 settings. Check the offsets page and make sure there are no odd numbers there before you start. ( a set of MDI lines with G90 for the first one, and then G92 X0 Y0 Z0 can clean them up, just resets the current position to 0,0,0)
The reason I ask a bunch of questions is not that I am a Mach3 Guru, but because the biggest problem with diagnosing a problem is a lack of details so everyone makes a bunch of guesses and they may or may not provide any benefit.