I opened a new package, then let Studio run for 20 minutes until the open package wizard finally opened. In the middle of the window, underneath the "Project Folder" field, there are two check mark areas (Append project name... and Use default Studio). Make sure both of these are checked. Mine were previously NOT checked, and this is what was causing Studio to freeze. Once I was able to check them, Studio functioned normally. You just have to be able to open the "Open Package" wizard. For what it's worth, I paid for the support package but was able to find a solution before they replied. Best of luck.
Hi Allan. I ended up finding a solution.