Why is Pro/Engineer Wildfire 5 (Creo Elements) running so slow on my fast computer? Any ideas?

I have a quad-core (Q6600) with 3 gbs of ram and a GT 8800 video card. Why is it running so slow? When I run the mouse over an edge or line (so it highlights it in blue) it freezes for like 20 seconds until it slowly unhighlights itself? Any Ideas? Thanks