Over 10GB to load that MSQ file as part of the import. Works fine on my Mac, it definitely isn't going to work on the Windows builds. Get a Mac. :-)
Might need to flip it to using the pull parser (which we did for Vixen). A pain to program and would be quite a bit slower due to having to parse the files twice, but would handle the larger files better. That would just help for the import process though as it wouldn't hold the contents of the MSQ in memory like it does now. It won't help at all with the actual xLights sequences in memory and the rendering of those. Just importing the first 3 arches, promoting the effects (not many got promoted), and saving took 5 minutes to save and resulting in a 75MB xml file.
As far as I'm concerned, importing these into xLights like this is a very bad idea. xLights is NOT designed for this. The node (and strand)level effects are designed for handling relatively small number of individual items. Maybe in the 100s at most. It's a way to expand from the xLights "pixel effects" into allowing some level of control for AC and other single channel or simple RGB items. It is definitely NOT meant for 1000's of pixels on large pixel based models. It's a really bad idea to do that.
If you insist on going down this path, you're quite likely going to be LESS happy with xLights than with LSP. The performance is going to suck really really bad. Memory usage will be outrageous. It's not designed for this.
Dan