Ugggh, I should've thought to check here first!
I've been to he!! and back with system restores and everything else the last few days.
I have the same problem with WinXP SP3 and explorer.exe using 100% CPU
I will uninstall now and look for a bug fix in the New Year? they're down from Dec18 on for the Holidays, correct?
eta: I went into Impulse / Fences / Tools / More Tools and checked off the Disable Fences and IMMEDIATELY my CPU usage went back down to normal
So there is a bug in this last update. I'm new here - any way to get the older version since they probably won't work on it for the next 2 weeks?