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Yes. I get a delay of between 0.5 and 1 seconds for empty projects next to each other on the tree. I get a delay of 1.5 - 2 seconds for larger projects separated by a great deal of distance. 3 seconds to display the whole library.

The amount of delay is not always stable. I timed the delays at a different point and sometimes got somewhat shorter or longer delays. Always still noticeable, though.