We formulate the Fast-Weights Homeostatic Reentry Network (FHRN) as a continuous-time neural-ODE system, revealing its role as a norm-regulated reentrant dynamical process. Starting from the discrete reentry rule $x_t = x_t^{(\mathrm{ex})} + γ\, W_r\, g(\|y_{t-1}\|)\, y_{t-1}$, we derive the coupled system $\dot{y}=-y+f(W_ry;\,x,\,A)+g_{\mathrm{h}}(y)$ showing that the network couples fast associative memory with global radial homeostasis. The dynamics admit bounded attractors governed by an energy functional, yielding a ring-like manifold. A Jacobian spectral analysis identifies a \emph{reflective regime} in which reentry induces stable oscillatory trajectories rather than divergence or collapse. Unlike continuous-time recurrent neural networks or liquid neural networks, FHRN achieves stability through population-level gain modulation rather than fixed recurrence or neuron-local time adaptation. These results establish the reentry network as a distinct class of self-referential neural dynamics supporting recursive yet bounded computation.