This article explains the problem of poor CODESOFT performance (i.e. sluggishness) that results from pick lists that reference data that depend on overly complex formula.
This occurred with a client who was converting labels from an old version of LABELVIEW (v8) to CODESOFT 2012. The labels had a lot of error checking and some concatenated fields. After conversion, the label converter had inserted many formulas (35). Each time a pick list was used, most likely CODESOFT was running the formulas on all or several variables causing the slowness. Removing the formulas resolved the slowness.
In certain situation, it is better to create new label from scratch than running old labels through a conversion software. This is one such example.