Constantly getting modal message "Could not save application settings: null" in RubyMine 7

I'm extremely eager to use RubyMine v7, however it has become unusable for me.

Every 20 secs or so, I get an application modal message saying "Could not save application settings: null. How do I fix this?  I am very desperate....please help.

After going through the log files I found many instances of:

2015-01-16 18:27:17,156 [ 962970]   INFO - plication.impl.ApplicationImpl - Saving application settings failed
java.lang.NullPointerException
    at org.jetbrains.plugins.ruby.gem.GemBox.getState(GemBox.java:167)
    at org.jetbrains.plugins.ruby.gem.GemManager.getState(GemManager.java:619)
    at org.jetbrains.plugins.ruby.gem.GemManager.getState(GemManager.java:49)
    at com.intellij.openapi.components.impl.stores.ComponentStoreImpl.a(ComponentStoreImpl.java:125)
    at com.intellij.openapi.components.impl.stores.ComponentStoreImpl.startSave(ComponentStoreImpl.java:108)
    at com.intellij.openapi.components.impl.stores.StoreUtil.doSave(StoreUtil.java:40)
    at com.intellij.openapi.application.impl.ApplicationImpl._saveSettings(ApplicationImpl.java:1404)
    at com.intellij.openapi.application.impl.ApplicationImpl.saveSettings(ApplicationImpl.java:1443)
    at com.intellij.ide.SaveAndSyncHandlerImpl.saveProjectsAndDocuments(SaveAndSyncHandlerImpl.java:154)
    at com.intellij.ide.SaveAndSyncHandlerImpl$3.onFrameDeactivated(SaveAndSyncHandlerImpl.java:103)
    at com.intellij.ide.FrameStateManagerImpl.a(FrameStateManagerImpl.java:87)
    at com.intellij.ide.FrameStateManagerImpl.access$500(FrameStateManagerImpl.java:32)
    at com.intellij.ide.FrameStateManagerImpl$2$1.run(FrameStateManagerImpl.java:72)
    at com.intellij.util.concurrency.QueueProcessor.runSafely(QueueProcessor.java:238)
    at com.intellij.util.Alarm$Request$1.run(Alarm.java:351)
    at com.intellij.openapi.application.impl.LaterInvocator$FlushQueue.run(LaterInvocator.java:318)
    at java.awt.event.InvocationEvent.dispatch(InvocationEvent.java:209)
    at java.awt.EventQueue.dispatchEventImpl(EventQueue.java:715)
    at java.awt.EventQueue.access$400(EventQueue.java:82)
    at java.awt.EventQueue$2.run(EventQueue.java:676)
    at java.awt.EventQueue$2.run(EventQueue.java:674)
    at java.security.AccessController.doPrivileged(Native Method)
    at java.security.AccessControlContext$1.doIntersectionPrivilege(AccessControlContext.java:86)
    at java.awt.EventQueue.dispatchEvent(EventQueue.java:685)
    at com.intellij.ide.IdeEventQueue.e(IdeEventQueue.java:748)
    at com.intellij.ide.IdeEventQueue._dispatchEvent(IdeEventQueue.java:577)
    at com.intellij.ide.IdeEventQueue.dispatchEvent(IdeEventQueue.java:384)
    at java.awt.EventDispatchThread.pumpOneEventForFilters(EventDispatchThread.java:296)
    at java.awt.EventDispatchThread.pumpEventsForFilter(EventDispatchThread.java:211)
    at java.awt.EventDispatchThread.pumpEventsForHierarchy(EventDispatchThread.java:201)
    at java.awt.EventDispatchThread.pumpEvents(EventDispatchThread.java:196)
    at java.awt.EventDispatchThread.pumpEvents(EventDispatchThread.java:188)
    at java.awt.EventDispatchThread.run(EventDispatchThread.java:122)
2015-01-16 18:27:25,215 [ 971029]   WARN - ewvfs.persistent.RefreshWorker - [+] fs=LocalFileSystem dir=file:///Users/ash name=.worldoflogs\
2015-01-16 18:27:40,202 [ 986016]   INFO - plication.impl.ApplicationImpl - Saving application settings failed
java.lang.NullPointerException
    at org.jetbrains.plugins.ruby.gem.GemBox.getState(GemBox.java:167)
    at org.jetbrains.plugins.ruby.gem.GemManager.getState(GemManager.java:619)
    at org.jetbrains.plugins.ruby.gem.GemManager.getState(GemManager.java:49)
    at com.intellij.openapi.components.impl.stores.ComponentStoreImpl.a(ComponentStoreImpl.java:125)
    at com.intellij.openapi.components.impl.stores.ComponentStoreImpl.startSave(ComponentStoreImpl.java:108)
    at com.intellij.openapi.components.impl.stores.StoreUtil.doSave(StoreUtil.java:40)
    at com.intellij.openapi.application.impl.ApplicationImpl._saveSettings(ApplicationImpl.java:1404)
    at com.intellij.openapi.application.impl.ApplicationImpl.saveSettings(ApplicationImpl.java:1443)
    at com.intellij.openapi.application.impl.ApplicationImpl.a(ApplicationImpl.java:801)
    at com.intellij.openapi.application.impl.ApplicationImpl.access$800(ApplicationImpl.java:87)
    at com.intellij.openapi.application.impl.ApplicationImpl$11.run(ApplicationImpl.java:783)
    at com.intellij.openapi.application.impl.ApplicationImpl.exit(ApplicationImpl.java:789)
    at com.intellij.openapi.application.impl.ApplicationImpl.exit(ApplicationImpl.java:740)
    at com.intellij.openapi.application.impl.ApplicationImpl.exit(ApplicationImpl.java:735)
    at com.intellij.ide.MacOSApplicationProvider$Worker$1.handleQuit(MacOSApplicationProvider.java:105)
    at com.apple.eawt._AppEventLegacyHandler$7.dispatchEvent(_AppEventLegacyHandler.java:146)
    at com.apple.eawt._AppEventLegacyHandler.sendEventToEachListenerUntilHandled(_AppEventLegacyHandler.java:168)
    at com.apple.eawt._AppEventLegacyHandler.handleQuitRequestWith(_AppEventLegacyHandler.java:144)
    at com.apple.eawt._AppEventHandler$_QuitDispatcher.performUsing(_AppEventHandler.java:387)
    at com.apple.eawt._AppEventHandler$_QuitDispatcher.performUsing(_AppEventHandler.java:380)
    at com.apple.eawt._AppEventHandler$_AppEventDispatcher$1.run(_AppEventHandler.java:489)
    at java.awt.event.InvocationEvent.dispatch(InvocationEvent.java:209)
    at java.awt.EventQueue.dispatchEventImpl(EventQueue.java:715)
    at java.awt.EventQueue.access$400(EventQueue.java:82)
    at java.awt.EventQueue$2.run(EventQueue.java:676)
    at java.awt.EventQueue$2.run(EventQueue.java:674)
    at java.security.AccessController.doPrivileged(Native Method)
    at java.security.AccessControlContext$1.doIntersectionPrivilege(AccessControlContext.java:86)
    at java.awt.EventQueue.dispatchEvent(EventQueue.java:685)
    at com.intellij.ide.IdeEventQueue.e(IdeEventQueue.java:748)
    at com.intellij.ide.IdeEventQueue._dispatchEvent(IdeEventQueue.java:577)
    at com.intellij.ide.IdeEventQueue.dispatchEvent(IdeEventQueue.java:384)
    at java.awt.EventDispatchThread.pumpOneEventForFilters(EventDispatchThread.java:296)
    at java.awt.EventDispatchThread.pumpEventsForFilter(EventDispatchThread.java:211)
    at java.awt.EventDispatchThread.pumpEventsForHierarchy(EventDispatchThread.java:201)
    at java.awt.EventDispatchThread.pumpEvents(EventDispatchThread.java:196)
    at java.awt.EventDispatchThread.pumpEvents(EventDispatchThread.java:188)
    at java.awt.EventDispatchThread.run(EventDispatchThread.java:122)

I've attached the full log file.