It gets worse.
Take a look at the memory usage for that service. You may find that it keeps sucking down the RAM.
That's the problem I had. After running for about 6 hours, the service was using 20 GB (yes, GB) of virtual memory, and making the system virtually unusable. In fact, I had to do a hard reboot once since the system wasn't responding at all.
After doing a search of other posts, I found the problem (at least for me). Right-click on any folder in the Finder, and select "Folder Actions Setup...". A dialog will display to select a script to attach to the folder. Just hit Cancel, and you'll be left with a dialog showing what existing folder actions you have set up.
I had several scripts set up on various .../LaunchAgents and .../LaunchDaemons folders. I'm not sure when I did that, but it was probably years ago in an attempt to be notified if some malware attempted to install bad daemons or agents on my system (probably something I read in article somewhere). It looks like there's a problem with Yosemite wherein the service that monitors those things goes a bit wild.
My solution was to simply either uncheck the "Enable Folder Actions" checkbox, and/or delete all of the existing folder actions. That completely solved my problem. No more CPU hog, and more importantly, no more RAM hog. System is humming along just fine.
Let me know how it goes. I'm curious as to whether this is the same problem I was experiencing.