I have a similar problem. Compared to WordPress 2.7.1 you have added a new function in WordPress 2.8 for the Dashboard panel: Appearance-> Editor.
This is a strong indication that the syntax macro is badly coded and inefficient.
I STRONGLY RECOMMEND THAT WORDPRESS MAKES THIS MACRO AN OPTION IN WP 2.8.1 AND HAVE IT DEACTIVATED AS DEFAULT, ALLOWING THE USERS TO TURN IT ON INSTEAD.
(In that way, the acute problem is solved, and the macro can be improved without time pressure.)