Can you please let us know few details in order to understand the issue:
1. When you click on "Analyze Options" button, do you see only CPU device or you see CPU and GPU devices
2. What is the size of your kernel
3. While analysis is in progress, do you see memory consumption in "Task Manager" for CodeXL going beyond 1GB?
I'm actually using the CodeXLAnalyzer.exe command-line tool part of the CodeXL package. I'm feeding it with a HLSL vertex shader. I'm following these instructions: http://developer.amd.com/community/blog/2014/05/16/codexl-game-developers-analyze-hlsl-gcn/