I changed your library so that the #virtual_libraries column contains only the word "foo". I then backed up to calibre V2.7 and opened your library. It opened in 62 seconds and I had no trouble looking at book details for a number of books.
The changed metadata.db
is here. Note that it is a modification of the one you posted. If you have changed your library after you put that link in dropbox then those changes won't be there. Be sure to make a backup of your metadata.db.
I also note that you are using 32-bit calibre on 64-bit windows. I am using 64-bit calibre. You might want to try using 64-bit calibre, as it can use more memory than the 32-bit version.