Colen from Lone Wolf here - I'm the lead developer of Hero Lab. I wanted to expand on Jonathan's comment above and explain things in a bit more detail. :)
Because of the 5+ years of Paizo's Pathfinder content we include in the full Pathfinder data set these days, we are currently running into three challenges:
1) Even on a relatively recent tablet like my iPad 3, after you download and install a new Pathfinder update for Hero Lab, the first load of a character (which builds the full data set for you to use) takes over a minute. :( The CPU in the iPad can only work so fast, and there's so much data included that it just takes a big chunk of time to load. The second and subsequent time the app starts it's much faster, but that initial load time is still a big pain point for us, as it's people's first experience with our iPad app.
The more content we add to the Pathfinder data files, the longer this load process is going to take for all our users. Because of this, we're currently being more restrictive than we'd like to be about which content is sold through our store (and thus included in our full Pathfinder data set).
2) In addition to taking too long, loading all that content uses up a lot of memory. This means that some of our users with the iPad 2 / old iPad mini are having problems loading Hero Lab - in the wrong circumstances, Hero Lab tries to use too much memory to load the data files and crashes. :(
Again, adding more content to Hero Lab only makes this problem worse for those users, so we're currently being as careful as we can about it.
3) Finally, the data files we update every month have got really big - almost 200mb of data files and stock NPCs. We obviously want these to be as small as possible, as we'd prefer that our customers didn't have to download over 200mb of data every time we updated Pathfinder. 200mb is already more than we want to be distributing, and again we're trying to stop the size from expanding too much.
Now, these are all issues that can be solved, and we have plans that will help resolve most of them, but it's going to take us some time to do so. We have a tiny team working on Hero Lab, and we're currently focusing all our energy on getting the full Pathfinder version of Hero Lab for iPad (which will let you build characters as well as play them) out the door.
Once that's out and in good shape, we'll be able to spend more time on problems like this. We are definitely aware that it's not working as well as it could, and we're hoping to be able to fix that in the future.
Regarding the other issue, of many other packages being required to use the Adventure A Week content (and other data sets that various people are selling / making available) - this problem is also on our radar and is also one we are hoping to fix in a future release.
Thanks, and hope this clarifies Hero Lab related things. :)