Thanks, the issue appears to be with the regex pattern I am using. I originally tested the new $url with the newer regex routines which were updated to fix a number of regex bugs. However, they were reverted to v7.43 in the latest beta as they broke backwards compatibility. I will be using a simpler regex URL for the new $url that will be in the next beta.
That said, what you are experiencing is a worst case scenario for the new $url method. Accessibility objects can number in the thousands which means that if mIRC does not detect a URL early on in the search, it will need to search through all objects. Unfortunately, there does not seem to be an alternative method of retrieving a URL from a modern browser.