I made a small patch a while ago, and tried sending it to all people involved. Most bounced, and a few I just didn't hear anything from. So, I've decided to release a new version myself. I've called it 0.0.4C, and it can be downloaded on from the root-tail page.
I have occassionally experienced the slowness problem, though since I upgraded to afterstep 1.7.150 and activated backingstore, I haven't had any problems... However, I am having a mixed results with the redrawing, and it seems to ignore the hight of the standard x geometry string (--geometry WxH+X+Y). Still, all in all, pretty cool stuff.