So I'm trying out LiveMesh on my Mac right now. Installation was easy and so was setting up the sync folder. I copied about 100MB of source code into the folder

So I'm trying out LiveMesh on my Mac right now. Installation was easy and so was setting up the sync folder. I copied about 100MB of source code into the folder and it started syncing right away. However, it's just killing my CPU. I have a Core i5 MBP and CPU utilization is 100%-130%. Memory usage is quite low at ~70MB. I don't recall Dropbox killing my CPU like this when doing a simple sync. I wonder if it's doing some sort of encryption?