Configuration:
I personally encountered some comparable problem: Visual Studio 2010 did not begin debugging but froze.
When I clicked VS it displayed a "Wait some more" or "Switch to" message box which didn't help me.
Using a task manager I could kill the *.vshost.exe process which brought VS back to life but aborted the debugging. Launching the program without debugging started the application instantly.
Solution:
Disable the indexing service for your code directories! Either deactivate the index service or uncheck the folders in the Indexing Service control panel.