Tim,
That's strange. To answer your original question. Yes, you can replace the OCX of your color picker with a backup. Somehow I doubt, though, that this the color picker is the actual culprit. Right now I can only guess what could be causing the problem. One setting you might try is changing _VFP.AutoYield . Maybe it he helps to enable the mouse cursor explicitly:
DECLARE INTEGER ShowCursor IN user32 INTEGER bShow
ShowCursor(1)
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Christof