Glad you posted this. I haven't had it lock up, but I have to verify (extra click) the VST plug for EACH track that I'm using one on (in multitrack), and I have to do it everytime I try to play back the session. Similar weirdness in Edit mode...Even if I hit "F2" to just reuse the last plug I used, the wrapper pops up and asks me which effect I want to use. It wasn't always this way. In 1.2a, the wrapper worked without a hitch.
Sorry I'm not much help, but there IS something weird about it. I'm gonna' look over on the ever-so-user friendly adobe site (*sigh*)