I have searched high and low and it seems I am the only one experiencing this lag. If I click on the create new layer icon say 5 times, the layer panel still shows 1 layer. It's only when I start doing something else, eg drawing on the canvas that the layer panel kicks in and updates itself to show I have 5 layers. There is a sever delay which is frustrating.
This has happened on leopard 10.5 - 10.5.8 and now on snow leopard 10.6, 10.6.1 and 10.6.2