So, I purchased a G3 character from the content store. It works fine, as is... I used it to create a new (recolored in PS) character. The recolored character works, but it takes a very long time to load/save and causes the program to crash if I make any inputs (key presses, mouse clicks) while waiting. 

Any ideas what could be causing this? 

So, I figured this out... For some reason the 1.0 image scale for this .psd was over 5000 X 5000. This was making the file size HUGE after editing in PS. Once I reduced the image scale to .2 (image size was still approx. 1500 X 1500) and saved in PS, everything worked fine.