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Do a checkout of NB sources from mercurial, into, say, ~/space/hg_nb Expand ~/space/hg_nb/nb_all in the Favorites tab. My IDE has been hung for more than 5 minutes and counting... The culprit appears to be reading the list of ignored files in order to compute the icon for various nodes; probably this should not be done synchronously. Thread dump attached.
Created attachment 55633 [details] Thread dump
Various optimizations have been added to speed up initial project parsing and opening. If you still see this type of hanging please reopen with details on how to reproduce.