Well, no. I've requested our support people to get the latest version.
I'm watching "top" on that machine and it show 1217m virt; 1.1g resident; 100%CPU; 3.6%Mem (The machine has 32G physical memory, 8 processors.) I thought it might be running up against a program/process limit e.g. it's only allowed to use 1.1g memory no matter how much the machine has. I seem to remember there is a system command to adjust the system default limit. But if its running 100% CPU, then it doesn't seem to be wasting time waiting for memory swap.
Since I asked the original question, I edited the hier script so the problem modules are all done first. It did the first 4 in 6 seconds each, now its taking minutes for each one.