Take one long HDV clip, let’s say 40+ minutes. Put it in the source monitor, set in and out points, drag it to the time line, repeat that for another 20 instances of the clip and then check whether you have audio lagging when playing the time line. Do not make sub clips, just instances. If you have no audio lagging, you are OK.
The reason I mention this is because I had this problem and it has never been solved. I had to remove the plug-in to get rid of the audio lagging, which defeats the purpose of the plug-in.