I had the same issue today. It was so bad that I had to uninstall COMODO in order to even be able to get online to post this. This CPU load issue needs to be fixed NOW as it makes the software completely unusable.
I use a third party firewall because I want to be asked permission before programs are allowed to use the computer's internet connection, (outbound) and I use COMODO because there is a freeware version that can remember programs. I am very happy with the alerts I was getting after setting a few simple rules (Firefox.exe can access the internet anytime, but QuickTime can't without my permission, ect) but with this CPU load problem, all of that is completely useless. It's like it makes it so there's no usable computer to protect.