Just ran into this for the first time here as well with two physical boxes running v1.2.1 w/CARP and having separate switches for each private/public subnet. Interestingly, the only difference between this network and any of quite a few others we've worked on with pfSense was the presence of a number of new Windows 7 machines which had bad keys and all suddenly started looking for KMM servers at the same time, (with lots of NBT broadcasts in the process). Confoundingly, it's a multi-WAN and we had just added the second link (on a separate switch of course) and thought maybe we had configured something wrong in the LB by accident. Fortunately we have an identically configured setup at another location and after doing a line-by-line comparison between all the configs determined it had to be a bug in pfSense. A quick search came across this thread and we have implemented jjponce suggestion of restricting traffic between the two WAN interfaces to pfsync and nothing else. (This was only performed on the public-facing NICs as they were the only interfaces exhibiting the problem, his reference to CARP interfaces may still apply under some circumstances).
To clarify a bit further for anyone else seeing this, the traffic only appears on the public side and completely saturates the external NICs. If you do a packet capture all the packets are NetBIOS addressed from/to 169.254.x.x (actual IP varies of course) and run up to the maximum bandwidth of the WAN link.
To reiterate that last, the bandwidth utilization we observed was the physical limits of the dedicated lines coming in, NOT the limits of the local hardware. This implies that pfSense is routing the broadcast packets out and they are getting reflected back by upstream devices(?) The multi-WAN in this case has lines coming from two different ISPs, both lines having bandwidth caps set by the ISPs, one at 35Mb and the other at 100Mb. All local hardware is Gb but the traffic load was never more than what the lines were (externally) capped at.
We'll post again if jjponce's solution does not help, otherwise consider it the answer for now.