Just ran the current commit version (which has some optimizations and speed improvements (up to 75% more speed, purely optimizing DMA clocking and non-rendering audio channels(mostly the MIDI synth's 24 idle note channels)).
When in cycle-accurate CPU mode, it's indeed very slow (constant 0%, although running). It's has a green outline, so it's actually running (but at less than 1% speed).
In IPS clocking mode, it's faster (more than twice the speed) as measured on an i7-4790K (~35% in cycle-accurate, ~80% at IPS clocking mode(at 315KIPS with it's default setting used).
In IPS clocking mode, I do see the speed percentage going from 0% to 1% and back every few seconds. So it's definitely running, but very slowly.