When I run wallet-tool.py, it takes an insanely long time to give me the results.
This wasn't the case a week back. Has something changed at blockr.io's end in the past 1 week?
Or is it a problem just with my internet connection?
How does the speed vary with increase in number of addresses in your wallet?
In the case of Core, there is --fast to speed it up, but in the case of blockr.io it may indeed be some kind of connection problem to them. The only other possibility is if you've done a large number of transactions, which will slow it down for sure, but hopefully not "insane"-ly.