Toad 12.1 will not start stuck at "Building external tools menu"

Attempting to start Toad

over 10 minutes at “Building external tools menu”

ran with debug

06:08:34:241 Initializing application
06:08:34:256 Creating GlobalDataModule
06:08:34:350 Performing Toad’s startup tasks
06:08:34:365 Setting Toad help file
06:08:34:381 Setting global options
06:08:34:615 Creating main window
06:08:34:631 Create Bitmaps Form
06:08:34:779 Restoring dock layout
06:08:34:854 Checking for Spotlight
06:08:34:862 Checking for SQL Impact
06:08:34:869 Initializing Team Coding
06:08:34:895 Building quick scripts menu
06:08:34:903 Building external tools menu

any know issues that could cause this?

This post should be in the Toad for Oracle forum, not the Toad Edge forum.