I get the same issue as the OP - spinning ball o death any time I try to use the browser on the software GUI in Ableton/Studio One/Maschine(not supported I know). I will report it to support also.
iMac 2008
Quad Core Intel Core i7 2.8 GHz
8 GB Ram
OSX 10.6.8
Edit - Issue seems to only effect VST version of the plugin - Audio Unit version is working fine for me so far.