Noisy Speed Sensor causes spurious interrupts

Are you sure you don't have your interrupts configured to sense both edges (rising and falling)? That would very nicely explain the double-than-expected rate.

Going high and slightly higher doesn't really sound like the root cause to me.

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The Gadget Shield: accelerometer, RGB LED, IR transmit/receive, speaker, microphone, light sensor, potentiometer, pushbuttons