I got coLinux to run great on one of my Win2k Boxes.
I have another Win2k box that seems to peg the CPU when I start coLinux with the same image.
I tried several different root images.  All of my tests have been with coLinux 0.6.0 using the provided kernel.
When I run top, it seems to update way too quickly.  If I type 'date', wait 10 seconds and type 'date' again, the system clock gains several hours!.  Also if I do a 'vmstat', I get huge interrupt counts.   If I keep doing 'cat /proc/interrupts', it shows the timer is sending tens of thousans of interrupts per second.  If I peg the cpu with a linux program and wait a few minutes, the problem seems to go away.  Similarly if I peg the cpu with a windows program, the problem seems to go away.  About 15 seconds after the cpu becomes idle, the timer interrupts go through the roof again.
I'm not sure what to do.