Mat,
Checking the box makes the button load (it makes the wikitext render using a reveal widget), which requires some php to run on the server to see what comments exist there, and checks that against the comments that are already in tiddlers. This is what takes so long. There is one '.' added for each post that has new comments on the server that aren't in the wiki yet, or for posts that have never been checked before. This was there for debugging but I have found it useful to see what is going on. It can easily be removed. Then when you click on the button it pulls the information for each new comment off of the server and creates uses it to create a tiddler for that comment. When the list of comments is displayed that just shows new comments and the buttons tag the comments as accepted or rejected.
I am a bit worried because this does come very close to violating the
rule about wikitext rendering not having any side effects. It doesn't
change anything on the wiki so I don't think that it is a problem, it
just sends some http requests to the server and uses that to generate
the correct javascript and wikitext. If that is how you describe what is
going on, I am still kind of unsure how all of this works.
I am sure that there are plenty of ways to make it faster. When there aren't so many posts to check than it does go much faster. I changed what things say a bit on my
non-testing site, you can open the check comments tiddler using the left menu and see it if you want.