Thanks for the response! Sorry for my delayed reply.
We're using Python 3 on Windows 7, our python distribution is Anaconda. My previous test used the pyglet installed by "pip install pyglet", which I believe installed 1.2.4
To test your suggestion, we created a virtual environment, and tried installing from the source instead of the latest stable 1.2.4. To do this, we used the following two commands:
conda create -n pyglettest python=3.4
Trying to import pyglet failed, unless my working directory was the directory where I had cloned the repository. It seems that pip install is not putting all of the repo into site packages in the way that I'd expect; in particular, the extlibs directory didn't contain future after pip install, but it was present in the repository. If I copied the future directory from extlibs into the place in site-packages where things were installed, then pyglet now imports.
Incidentally, setup.py for the repo shows a version of 1.3.0a, but pyglet/__init__.py sets pyglet.version = 1.2.2.
The high CPU usage following "import pyglet.image" still appeared to be present.