Windows 7 secuitry could prevent the Code Insight pick list from coming up or it could delay it.
The symptom is that the mouse pointer will change to a circle and spin, but the pick list either does not come up or there is an approximate 5 minutes lag time.
RESOLUTION:
1. Close Toad, then right-click on the Toad shortcut and choose to "Run as administrator"
2. "Run as administrator" is the main solution but you can also couple it with setting the intelli-sense to a lower number
a. Go to View | Toad Options
b. Expand Editor | Code Assist
c. On the right-hand side, you'll see "Delay pop-ups" with default time of 1500 milliseconds but try and lower the delay time