Been messing around some more. Looks like it's not 100% limited to compositing... That thing is quite inconsistent (you'd expect no less from a beta), but here's a rough roundup (with low settings):
1024x720 W, switching from fullscreen to windowed with compositing: 60FPS
1024x720 W, starting game windowed with compositing: anywhere between 2-8FPS
1024x720 F, switching from windowed to fullscreen with compositing: 35-40FPS
1024x720 F, starting game fullscreen with compositing: 12-13FPS
1024x720 W, switching from fullscreen to windowed without compositing: 60FPS
1024x720 W, starting game windowed without compositing: 12-13FPS
1024x720 F, switching from windowed to fullscreen without compositing: ~75FPS
1024x720 F, starting game fullscreen without compositing: 12-13FPS, some peaks around 18-20
Really, really weird one. Temporary workaround, it seems, is pretty much "toggle fullscreen no matter what"
None of those happen with Conquest, compositing is handled just fine. Can't say I did some extensive testing, but I never had results as low as 2FPS. Lowest it went was in the twenties, compositing playing no role, and that's on atrociously high settings.
SIDE NOTE - Dunno if you guys have any plans as far as localization is concerned. I'm having fun with it ATM, roughly 65% done. It may seem pointless at this stage as things will clearly evolve, but I'd much rather diff the whole thing and build upon it than have it all on my hands at once as I have my hands full with this, The Journey Down, Project Baryon, The Dark Mod and then some (plus it's fun, and it's 100% tentative, just like a good chunk of your text

)... This is a completely different beast than Conquest, wordcount-wise. ^^