Hi, I have am experiencing just about the same behavior as qsilver here.
Once clipdiary (ver 1.3) it starts eating up the CPU, it seems the only thing that will stop the behavior is restarting the application. I am also running Outlook 2003... is there a possible interaction? Or maybe there's something going on with the ClipDiary\diary.sql file.
(btw, I have observed similiar behavior from flashpaste from time to time.)
Overall I think clipdiary is a great product, and I wouldn't hesitate to call it excellent except for this bug... Thanks for the good work!