A Microsoft file hosting and synchronization service.
Yes - this needs to be fixed. The only thing you can do is upon opening the one drive app .0313 is to then immediately open the activity monitor and force quit the one drive updater. Its not ideal but it works and you will need to do it every time you reboot or open the app. I would also turn off "open at log in" in one drive preferences so that the app does not open and update automatically. That way you can open it, turn off the updater asap and have v .0313 working.