The possibility of an unstable positive reactivity growth in an accelerator transmutation of waste (ATW)-type highr-flux system is investigated. While it has always been clear that xenon is an important actor in the reactivity response of a system to flux changes, it has been suggested that in very high thermal flux transuranic burning systems, a positive, unstable reactivity growth could be caused by the actinides alone. Initial system reactivity response to flux changes caused by the actinides and xenon are investigated separately. The maximum change in reactivity after a flux change caused by the effect of the changing quantities of actinides is generally at least two orders of magnitude smaller than either the positive or negative reactivity effect associated with xenon after a shutdown or startup. In any transient flux event, the reactivity response of the system to xenon will generally occlude the response caused by the actinides. The capabilities and applications of both the current actinide model and the xenon model are discussed. Finally, the need for a complete dynamic model for the high-flux fluid-fueled ATW system is addressed.