Selecting 'All Schemas' for a Team project (use subfolders) results in a long delay and then does not complete the folder structure in Team Foundation Server (TFS) (4310790)

In Team Coding | Add a Team Project, selecting 'All Schemas' for the project (use subfolders) results in a long delay and then does not complete the folder structure in Team Foundation Server. i.e. Toad should create the following folder structure, within TFS, with all object types for each schema:

DBNAME --
    -- SCHEMA1
         -- CONSTRAINT
         -- FUNCTION
         -- INDEX
         -- ...
         -- VIEW
    -- SCHEMA2
        ....
Toad will not create some SCHEMA folders and/or subfolders for the object types.  

WORKAROUND

none

STATUS

Issue fixed in version 12.9. The latest release can be downloaded here.

** Note: If upgrading Toad to resolve this issue, please ensure that all Toad users are upgraded to the same version to ensure proper functionality of Team Coding, as there has been significant coding changes made in 12.9. **