Do you get any errors?
Customer accounts have been getting a redirect loop error on that same page, when I check "Prevent customers from accessing the WordPress admin" in the WooCommerce settings page.
In Chrome, I see:
Error 310 (net::ERR_TOO_MANY_REDIRECTS): There were too many redirects.
It looks like the My Account page is trying to redirect to the profile page for some reason. This doesn't happen with my admin account.