Something weird is going on with Compressor 4 Version 185673

Something weird is going on with Compressor 4 (v185673).

I've just completed a 1.5hr edit in FCP X (v10.0.1) and chose to send it to compressor so I can encode my MPEG-2 files.

It takes approximately 5min for compressor to open and show the job to start with!

I then drag the MPEG-2 preset and click on it, the spinning ball comes up and takes approximately 10min before compressor reacts...!

Wondering if anyone else is having the same experiencing?