Photoshop CS5 ME (Middle Eastern Version) on Lion clogs when a Type layer is present. CPU use skyrockets for both Photoshop and fontd processes.
I have tried removing all fonts added by Adobe, as well as any fonts that might have been added by Microsoft Office for Mac 2011, and made sure there are no duplicate fonts in Font Book, and yet still CPU use exceeds 100% when they type tool is selected. The 100% CPU use is split almost halfway between the Photoshop app and fontd process.
Thanks a lot Chris and Jeffrey for the help. Turning off Font Preview did in fact stop fontd's high CPU use, which is a great step. Photoshop still takes over 50% and reaches 100% CPU sometimes, only when working with the type tool or when a type layer is present in an open document, which is still kind of frustrating as it generally becomes slow and almost unusable with large documents. Are there any other possible causes?