I'm having this same issue. I was using it earlier today just fine, then closed it out and went to do some other work and when I try to reopen the project I was working on I get the "initializing frameworks" spinning circle. It went on for several minutes so I closed it and tried again. Same thing. I closed it out, rebooted the computer and turned it back on. Same thing again. It's been going for 10 minutes now. It's almost as if the file is corrupted or something. Any ideas?
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