Confirmed here: Ubuntu 7.10, Awn 0.2.0bzr142-1 via tuxfamily repos, 32-bit dual core Intel laptop. Any time wine and awn runs, everything slows to a near crawl. If I'm focused on the Wine window (IE in my case), things seem fine, but switching elsewhere lags.
Could it be the icon rendering? They are "dynamic" (matching the window's icon) rather than just a general wine icon.