I'm sorry, my suggestion (about sysadmin log_first_tran) was pointless because problem occurs at LTL level (between RepAgent and RepServer) and transaction is not in DSI queue yet...
I think that description of the case (Note: #2100592 ) fits your problem:
"Reproducing the Issue:
* Compile a stored procedure with strings values with more than 32768 of length.
Cause:
* This is a Replication Server Limitation.
The limitation is based in to replicate no more than 32768 length of any String values.
Workaround:
* Split the stored procedures involved – Limit the string value length to 32768."
Maybe you should locate the procedure and try to apply this workaround... If it does not work - open new case in Tech Support.
Best Regards
--
Marcin