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When you check in the file. Try turning off the DWF option.
Inventor probably is not "locking up", it is actually working. Sometimes it takes a while to create the dwf file, especially the idw dwf's.
The dwf files are hidden in vault by default. In order to see them, from Vault explorer, click on Tools>Options and check the "show hidden files" box.
Post back if you have other questions.
Kirk