After Upgrading to 12.60.5545.7, Test Complete hangs with Object recognition hint. This happens especially when it waits for an object (Object.Exists) during page navigation. The same code was working in earlier versions of Test Complete.
If the issue is strongly reproduced, I suggest that you submit a support ticket to our Customer Care team. They will work with the R&D team to resolve it. You can submit the ticket here:
Thanks in advance.