Silvio,
The tool looks at memvars and properties for object references. If there are no object references it won't do anything more than the wait window. If there are object references of the type:
thisform.oOneOfMyControls = thisform.Command1
It'll show that reference in a form that pops up. So the tool will help point out why a form isn't closing when the X is clicked.
>David, what should I see if I launch objref() from the command window while having an open form? (opened directly from the project manager)