In your web.config, try it with <compilation debug="false"/> and it will probably be much faster.
But what you're seeing is the time between when the page loads to when all the behaviors get hooked up. Obviously, if you've got a lot of them, this takes a little longer.
What you're missing is the style that's set on the HoverMenu example. By making sure the Hover panels are initially invisible, you don't have to wait for the HoverMenu to hide it.
/*Hover Menu*/
.popupMenu {
position:absolute;
visibility:hidden;
background-image:url(images/header.png);
opacity:.9;
filter: alpha(opacity=90);
}
So on your hover panel, you can just add the style inline:
<asp:Panel id="HoverPanel" style="visibility:hidden;" ... >
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