I've updated the utility so the scan/menu build is a bit quicker, but .NET just seems slow to build menus programmatically (if I just extract VST data from the registry, it's fast, so it's definitely the menu building part of it). To mitigate a little, I've added a progress bar so at least you know it's working!
I've also made a couple of changes to the VST menu: internal/Pro Channel plug-ins are in italics and their names can be edited (yes, this does mean that the order of Pro Channel modules can be user-controlled through judicious application of knowledge of the alphabet) and plug-ins excluded via the Plug-In Manager are identified by having a strikethrough, so you can ignore them. I should probably add an option to exclude visually too...next version maybe.
Same URL as before.