Cannot deploy application following Xamarin update

Since updating to the latest version(s) of the Xamarin platform, I cannot deploy to Android Player or devices. The message I get is:

Deployment failed because of an internal error: Failure [INSTALL_FAILED_DEXOPT]

This problem occurred after installing updates from updates posted on 9/13.

Here are my environment details:
=== Xamarin Studio Business ===

Version 6.1.1 (build 15)
Installation UUID: ff621d1a-ada2-41a9-b2cc-f913bd8bdb81
Runtime:
Mono 4.6.1 (mono-4.6.0-branch-c8sr0/ef43c15) (64-bit)
GTK+ 2.24.23 (Raleigh theme)

Package version: 406010005

=== NuGet ===

Version: 3.4.3.0

=== Xamarin.Profiler ===

Not Installed

=== Apple Developer Tools ===

Xcode 8.0 (11246)
Build 8A218a

=== Xamarin.Android ===

Version: 7.0.1.3 (Xamarin Business)
Android SDK: /Users/vthompson/Library/Developer/Xamarin/android-sdk-macosx
Supported Android versions:
4.0.3 (API level 15)
4.4 (API level 19)
4.4.87 (API level 20)
5.0 (API level 21)
5.1 (API level 22)
6.0 (API level 23)
7.0 (API level 24)

SDK Tools Version: 25.2.2
SDK Platform Tools Version: 24.0.3
SDK Build Tools Version: 24.0.2

Java SDK: /usr
java version "1.8.0_92"
Java(TM) SE Runtime Environment (build 1.8.0_92-b14)
Java HotSpot(TM) 64-Bit Server VM (build 25.92-b14, mixed mode)

Android Designer EPL code available here:
https://github.com/xamarin/AndroidDesigner.EPL

=== Xamarin Android Player ===

Version: 0.6.5
Location: /Applications/Xamarin Android Player.app

=== Xamarin.iOS ===

Version: 10.0.1.10 (Xamarin Business)
Hash: ad1cd42
Branch: cycle8-sr0-xi
Build date: 2016-10-03 15:18:44-0400

=== Xamarin.Mac ===

Version: 2.10.0.105 (Xamarin Business)

=== Build Information ===

Release ID: 601010015
Git revision: fa52f02641726146e2589ed86ec4097fbe101888
Build date: 2016-09-22 08:03:02-04
Xamarin addins: 75d65712af93d54dc39ae4c42b21dfa574859fd6
Build lane: monodevelop-lion-cycle8-sr0

=== Operating System ===

Mac OS X 10.11.6
Darwin VanderMac.local 15.6.0 Darwin Kernel Version 15.6.0
Mon Aug 29 20:21:34 PDT 2016
root:xnu-3248.60.11~1/RELEASE_X86_64 x86_64

=== Enabled user installed addins ===

Show in Github 1.0.3
XamlStyler 1.0.1

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