First of all, great work on Consequence! You guys keep to amaze us with all these great ideas that keep the creativity flowing.
I have downloaded and installed Consequence 1.1 the other day (clean install) and experienced some probs with it -> in some presets we get massive intermediate CPU spikes (with 512 samples latency up to 100% for like 1/4 sec).
Going down to 1024 samples / 22KHz takes the spikes down to 50%... but working now almost feels like back in the good old Amiga days... 
We tried to narrow down the problem and it also happens in a clean project with no other plugins loaded. Bridging out the plugin with Jbridge has not solved the prob and it doesn't seem to be a multicore processing issue either (deactivated Multiprocessing and CPU affinity for tests). Consequence 1.0 on the other hand runs very smoothly...
Anyone having the same prob? I'm out of options for now...
System:
Windows 7 64bit, Intel Quadcore 9550 2.8GHz, UAD2-Quad
Cubase Studio 5.1.1 32bit
Cheers!
Takashi