I have a Rooted Phone Only and it tends to take a minute for my ADW launcher and other apps from the sd card to load up. So I don't know if this is the same issue or something entirely different.
Usually when my phone reboots it will go to the original launcher display and takes about a minute or two then when I click on an app then click home it asks which launcher to use. I click Remember, and click ADW. Then it shows the Apps, Background, and Theme afterwards and works fine from there. Something to do with the sd card having apps and other programs that initially won't imediately load until the option is clicked for adw launcher to be the primary launcher rather than the original launcher.