"offline" option through java cache viewer takes a long time to launch the application

tested build : mustang b59g
tested os : windows 2k

Steps to reproduce :
1. Install mustang build 59g
2. create the file named .javawsrc file with the following contents :

TraceNetwork=true
TraceBasic=true
TraceSecurity=true
TraceCache=true
TraceExtensions=true
TraceTemp=true

3. set the log and trace to true and show console in the java control panel
4. launch any javaws application (from java.sun.com or http://ramkumar.india.sun.com:8080/Javaws/Test/DesktopShortcutOnly.jnlp)
5. launch the same application with offline option through command prompt
the application is launched within a few seconds
6. try to launch the same application offline through java cache viewer.
splash screen comes up immediately and after that nothing happens for a long time...

Note : It takes nearly 15 mins to launch the application. The javaw process is still alive.

Machine details : malathi.india
vnc password : abc123