Originally posted by Adam dynamic range and color accuracy is significantly impacted at high ISOs
This, very much so.
But given those practical limitations, I've shot K-3 in very low light and extreme ISO and don't really have any AWB problems to report.
The random variability in your light colour may have something to do with the frequency of your local power supply, and/or the exact type of incandescent light source used (sodium-mercury vapor?, tungsten filament bulb?. halogen?) - either solely, or mixed with other light sources. Each may contribute something to colour temperature flicker.
For instance, using a Nikon, I shot a night rodeo under stadium lighting a while ago which was using several sets of sodium-mercury vapor lamps [I think]. While they had no perceptible flicker, I was perturbed to see on image review that even when shooting image bursts, each 6fps shot had a different colour temperature. Luckily, RAW is very good at letting you set your AWB after the fact.
---------- Post added 2015-08-04 at 03:36 PM ----------
Oh, and of course if you are using a polarizing or UV filter on your lens, strange exposure problems in low light may also be related to that too. Low light and filters of any sort do not mix, due to the internal reflections, colour casts, polarization, coma and other aberrations such filters may introduce.