Assuming you're complaining about page load time, rather than anything like the popups taking a while to pop up:
How big is the generated page? Remember that all your nested submenus need to appear in the HTML document sent to the client, so if you have a huge number of them it will just make a massive document, taking ages to transmit over the network. There's one argument for not having too complex a menu structure, and maybe not doing popups at all (though generally they're not too slow).
Some other thoughts: If you can save out the menu structure in a plain .html file, or set appropriate caching headers, then you could include it in a frame or something and the user's browser would only ever have to fetch it from the server once. That would only work for static content of course, and it would still take a long time to load the first time.
Another thought: If it is HTML volume which is causing your slow page loads, you could write more terse HTML, particularly in the bits which get repeated a lot in the submenus. However, your HTML doesn't look particularly wordy anyway, and it would have to be pretty fat to make a difference here.