Searching from the library, Live freezes for a long, long time, and there's no way of stopping the search while it's running.
This is a long way of saying "you can't search anything from the library, as it takes ages and you can't stop the search"
... I've got to pass the time somehow, as Live is doing this right now.I have seen this more than once, and yeah, currently as I'm writing this, Live has been sitting for eleven minutes on my Q6600 machine already, rinsing the HD doing the "search" and not reacting to any input.
Edit: getting near half an hour already
Edit #2: okay, I let it run its course. Took a sweet while. Now the search index is said to be up to date, and when ever I do a search like this, it doesn't cut off input from the user any more. The search takes a reasonable time, and I can just stop the search when ever I feel like it. Because of this, I suspect I have never let it run through the process because it has always looked like the program was just hanging, not accepting any input or showing any kind of progress bar, and sitting there for tens of minutes.
Conclusion: the index updating process should most definitely be handled and presented in a different manner, even when (and especially when) it's being done for the first time. If this is the common way Live's index building works, people using Live for the first time after installation are going to sit for something like 30-60 minutes without any ability to stop the process or do anything else inside Live, with no indication of the progress.
... After a (long) while it should be ok from that point on. Might even take longer than an hour, depending on your setup, as it took this long on a Q6600 machine with a brand new SATA drive.