Sandip,
I have two recommendations based on what I have experienced at my company. You should have the Compare Status and Out of Date columns in a custom view which is only toggled on and off when required. Also, we have our system here set where all objects are set to "Read Only" by default when added into a workspace, then the user can unlock objects which require change. In addition, you need a custom view which is basically what you want to see in the workspace with all "Read Only" objects filtered from the view. This will help with the refresh times.
Buddy