I finally received the older version v1.2.105 and installed it. After installing last week and adding my Synchron libraries to it, it was opening up in around 4-5 seconds. Then the other day after using it for a week and opening up many libraries, I clocked it at around 17 seconds to load. Now today, it is taking 36-37 seconds to load. Keep in mind that absolutely no new libraries have been added to the database.
So I just downloaded the latest version 1.2.123 and added the libraries. upon reopening it took around 36 seconds again to load, however, then immediately crashed.
I then uninstalled 1.2.123 and reinstalled 1.2.105. It was taking around the same amount of time to open (36 sec). I then uninstalled and reinstalled the iLok software (same version (5.5.2), and all of a sudden Synchron Player was opening quickly again (approx. 4 sec) . I will have to continue to use and see what happens, but it definitely seems to have to do something with iLok protection (which was recently confirmed). I just can't figure out why it would start off loading quickly, and then slow down again after days/weeks of use (especially if no new libraries have been added since.