Object reference not set to an instance of an object error or hangs when performing describe F4 on an object. The object is owned by another schema however the user has rights through a synonym on the object.
WORKAROUND:
In the Editor window, select from Schema drop down list and select the object owner which is APPLSYS in the example and then the describe finally comes back
STATUS:
Waiting for fix in a future release of Toad for Data Analysts.
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