I'm guessing Garbage Collector. With a callstack so deep, the GC may end up deciding it needs to run; whether because of heuristics, or because it actually needs to (running out of heap space?).
Is there an option for VS to show you the actual external code? I think it's a setting somewhere. Maybe this setting also affects the profiler so you can see what External Code means.
The [External Code] entries indicate time spent in the platform and runtime on behalf of our code doing work such as rendering the UI, initializing the app, and garbage collection.