We're not comfortable with the performance yet of that many addresses. But there's nothing technically wrong with doing it, but you might want to wait for version 0.91 which has dramatically improved performance. It's not perfect, but I'm running with 27k addresses now (online) with no problem in 0.91. And it was pretty slow in 0.90.
Don't interpret slow address generation as a sign of anything. The address chaining operation is very computationally intense, but actually using those addresses is fine, no matter how many there are. The only thing to be aware of is that you will have to generate as many addresses on your offline computer as you are on the online computer. Or generate them on the offline computer first before exporting the watching only wallet. If you've already split them, it's no problem, but you'll have to go into expert mode in the offline computer and click on "# Addresses Used" in the wallet properties and tell it to generate 100k. Once they're generated, it will have no problem doing offline signing for any of them, it just needs to be aware of those 100k.
Thank you, etotheipi. I will wait the 0.91 version. The address generating is done, and now when I unlock the wallet I got a "no response". I will wait a few hours to see whether it will unlock the wallet after all.