Rendering the nodelets takes a few thousands SQL queries. Rendering a page with no nodelets only several hundred SQL queries. Adding a hundred SQL queries / updates to a single page load likely isn't a big problem (given how infrequently retitling happens).
I am happy the retitler runs by now, though I would have appreciated a little notification in this thread. However, what happened to The editors' hall of mirrors and trickery? Why is it gone from the editors nodelet?
edit: Looks like to the gods temporarily striked me with blindness ;-)