Update Notification Plugin Slows Down Admin Area Tremendously


In 3.1, the Update Notifications plugin slows any admin operations to a crawl. Logging in, clicking a Dashboard menu item, loggin out…anything takes about 10 seconds. With the plugin deactivated, all such operations are almost instantaneous.

I have the plugin Network Activated, is that correct?

Is anyone else seeing this? Any idea on how to resolve it?