my jcm800 does it too. when i took ym amp for a service at the Marshall factory they said it was just a trait of the jcm800, and that the only way to stop the squealing is to lower the volume or move a loooong way away from it. He also said to get used to rolling back the volume control whenever you stop playing. Pisses me off. In a few days i should have my Tonelab back, and i can try it with the noise reduction. That should help. At the moment i never use it at high volumes because it hurts my ears squealing, and that's annoying.
EDIT: what's really quite strange is that it only ever seems to do the squeal really badly when you boost it = without the boost it's fine... It does it all the time aswell, with whatever guitar and whatever valves through whatever cabinet.