I found a solution here, and it worked:
http://wordpress.org/support/topic/412360?replies=14
The other temporary fix which is slightly more practical is to disable URL monitoring.
1. Go to Redirection > Options
2. Set URL Monitoring to “Don’t Monitor” and Update your changes.
3. Go to Groups > Modified posts and remove any that have been applied to the home page
I’m having the same problem with my blog. My URL is http://www.tinmanic.com but it’s redirecting to http://www.tinmanic.com/archives/2010/06/24/doe-v-reed/.
I had this problem as well, but with a little Googling I figured out how to solve it.
Go to USERS > YOUR PROFILE. At the very bottom under “Personal Options” there is a checkbox to toggle the visual rich editor. This apparently has priority over the setting under OPTIONS > WRITING. See here.
