Correct. TimeMachineGrowler works by searching the Console log, and this is currently a CPU-intensive operation. Depending on how many messages you have in your Console log, it can be over quickly, take a few seconds, or even (in extreme cases) bog down for taking so long.
> I've only observed this when iMovie is exporting a movie.
That doesn't make a difference. You should notice the cores light up every ten seconds regardless.
You are quite right, I guess I just didn't notice it before. Is there a way
to make it scan the Console log less frequently? I think I'd be pretty
happy with scans happening every 30 or 60 seconds.
It's hard-coded, so the only way is to download the source code, change the poll interval there, build it, and run your custom build. This, of course, requires the developer tools.