Qsys stuck at Validating File after Open

I created my first project in Qsys, which was a simple Arm V9 Processor, and now I am trying to open the file to add more stuff, but every time I try to open it, Qsys gets stuck at "validating" phase. Here's the picture for reference: http://www.alteraforum.com/forum/attachment.php?attachmentid=13025&stc=1

Has anyone ran into this problem before? How do I work-around this?