There is no abnormal behaviour to be seen in the logfile. Depending on where you have stored your files (network?) and how fast your computer is, 1 second could be a normal time for the initial preview generation. As I just said, all subsequent load procedures of that folder would be much faster. Just let it work in the background the first time.

Is it normal for LRT to eat 2GB of RAM creating about 40 180x120 previews??? That can't be normal...

Depending on which settings you used when editing your info.plist file, this could be normal. That's not LRTimelapse, that's the Java Virtual machine and the way Java handles memory.

If you set the Xms parameter to say 1500M - it will reserve 1.5GB of RAM no matter what. After using this up it will increase up to the amount set via the Xmx parameter. And it won't free it up again. That's how Java is implemented - and it's totaly out of my reach. Just find the settings that are appropriate for your system and don't worry too much.

probably i say something very stupid, but: could be the java runtime not up to date?