Opens and is responsive here on LibreOffice 4.0.3 with:

 9196 bjoern    20   0 1537m 561m  80m S   1.7  3.5   0:25.43
soffice.bin

thus closing as WORKSFORME.

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https://bugs.launchpad.net/bugs/148148

Title:
  [Upstream] Calc uses huge amount of ram and cpu to load 18MB .xls

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