Thanks for the followup. I'm still running Excel 15.24 (160709) since I'm not on the Insider program. Was able to collect a few logs and this is what shows up:
When I transition from a Normal sheet to a sheet in Page Layout view
8/21/16 10:59:19.084 AM WindowServer[198]: disable_update_timeout: UI updates were forcibly disabled by application "Microsoft Excel" for over 1.00 seconds. Server has re-enabled them.
8/21/16 10:59:20.458 AM WindowServer[198]: common_reenable_update: UI updates were finally reenabled by application "Microsoft Excel" after 2.37 seconds [0.42fps] (server forcibly re-enabled them after 1.00 seconds [1.00fps])
When I change the view of the current sheet from Normal view to Page Layout view
8/21/16 11:00:19.381 AM WindowServer[198]: disable_update_timeout: UI updates were forcibly disabled by application "Microsoft Excel" for over 1.00 seconds. Server has re-enabled them.
8/21/16 11:00:20.692 AM WindowServer[198]: common_reenable_update: UI updates were finally reenabled by application "Microsoft Excel" after 2.31 seconds [0.43fps] (server forcibly re-enabled them after 1.00 seconds [1.00fps])
I hope this is resolved in 15.26, when it gets out for production release.