When I do the search, it looks through a few hundred files for a wildcard text match, and finds every match there is, so it isn't a surprise that it's slow. If you can speed it up how ever, I'll be more than happy to add any optimizations you can come up with.

Code:
Search-Code {
  if ($1 == $null) { halt }
  if (!$window(@code_search)) { window @code_search }
  else { dline @code_search 1- }
  var %a 1
  var %max $findfile(C:\MoMEditor\,*.py,0)
  while (%a <= %max) {
    var %file $findfile(C:\MoMEditor\,*.py,%a)
    var %result $read(%file,wn,$1-,1)
    var %line $readn
    while ((%result != $null) && (%line > 0)) {
      aline -p @code_search %file Line %line $+ : %result
      var %line %line + 1
      var %result $read(%file,wn,$1-,%line)
      var %line $readn
    }
    var %a %a + 1
  }
  aline -p @code_search 4Search finished.
}