Locks and Waits analysis will monitor all system APIs (or your own) for synchronization objects or I/O operations, how they impact on performance.
In project properties, you can unselect "Collect Spin time data" item, unselect "Collect signals" item to reduce overheads from the tool. However excluding none interest of modulesis not supported.This means that all modules (used in your program) will be monitored.
Another thing is that you may reduce your test data, sometime it may helps to reduce overheads. For example, using application to test image process size 320x180 is much better than size 1024x768.