Hi, I've had the same issues: extremely high disk activity caused by Fences writing non-stop to a debug log. Explorer.exe process running at 90%, disk activity continuously extremely high. IBM ThinkPad T60 with 3GB RAM, running Windows XP. Uninstalled Fences and immediately my system started to behave normally again. Downloaded Fences again from the Stardock site just now (8 Jan 2010) as thread above suggests there has been a fix. The CNET download page says it's "v1.0
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