We all love a good mystery, eh, and this is causing a few scratched heads. If it's a new Shimano chain then I guess you had to cut it to the length of your old chain. Did you do one clean cut and then use a split link or did you split the chain and use a Shimano link rivet? I'm just wondering if there might be a chain issue even though we all know it's relatively new. Or the obvious.....is the chain ring on properly, facing the right way. I've replaced chain rings and things just work so something obvious must be screwed up somewhere.