If you're getting VS into "freeze mode" when trying to Update Model from Database, believe or not, it's problem with null in CatalogName. More on http://blog.vyvojar.cz/jirka/archive/2008/11/28/update-model-from-database-and-catalogname.aspx. Also check http://forums.microsoft.com/MSDN/ShowPost.aspx?siteid=1&PostID=3519267 if you're here.
Hope this helps.
Thank you for this post, I've forwarded it on for investigation by our update model guru.
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