I'm back with an answer from R&D:
In the LabVIEW Development System everything at edit-time is single threaded and runs in the UI thread. This is chosen because you generally wouldn't get much gain from the editor running in multiple threads, even on a multi-processor machine.
I will create a KnowledgeBase that describes this behavior, in case the question should arise again later.
- Philip Courtois, Thinkbot Solutions