I occasionally get log output such as that I've posted below. The pdf is not updated, but both the dvi and ps file are correctly compiled. TeXShop correctly compiles using pdflatex. Occasionally latexmk will decide to use pdflatex and everything will work correctly. I don't really know what's happening with ps2pdf and what it means by "stable files" and I'm not sure if this error is caused by a bug in latexmk or maybe some error in the configuration info given to latexmk by textmate.
Does the latex bundle have any control over whether latexmk uses pdflatex or regular latex?
-Jim
p.s. Here is that log file, with the latexmk messages:
Latexmk: This is Latexmk, John Collins, 11 Nov. 2012, version: 4.35.
Latexmk: applying rule 'latex'...
This is pdfTeX, Version 3.1415926-2.5-1.40.14 (TeX Live 2013
Processing: Practice Midterm 1 copy.tex
Document Class: exam 2011/05/22 Version 2.4 by Philip Hirschhorn
Document Class: article 2007/10/19 v1.4h Standard LaTeX document class
Output written on "Practice Midterm 1 copy.dvi" (6 pages, 17724 bytes).
Complete transcript is in Practice Midterm 1 copy.log
0 Errors 0 Warnings in this run.
Latexmk: applying rule 'dvips'...
0 Errors 0 Warnings in this run.
Latexmk: applying rule 'ps2pdf'...
0 Errors 0 Warnings in this run.
Latexmk: applying rule 'ps2pdf'...
0 Errors 0 Warnings in this run.
Latexmk: applying rule 'ps2pdf'...
0 Errors 0 Warnings in this run.
Latexmk: applying rule 'ps2pdf'...
0 Errors 0 Warnings in this run.
Latexmk: applying rule 'ps2pdf'...
Latexmk: Maximum runs of ps2pdf reached without getting stable files
Latexmk: Did not finish processing file 'Practice Midterm 1 copy.tex':
Latexmk: applying rule 'ps2pdf'...
Latexmk: Errors, in force_mode: so I tried finishing targets
Tell Skim to refresh '/Users/Starx/Dropbox/Mathematics/LaTeX Projects/Math307Win15/Practice Midterm 1 copy.pdf'
Command latexmk -pdfps -f -r /tmp/latexmkrc -r '/Users/Starx/Library/Application Support/Avian/Bundles/latex.tmbundle/Support/config/latexmkrc' 'Practice Midterm 1 copy.tex' exited with status 12