I just had the same issue.
49 groups (also from an old W3T board import), the closest thing to a special character in the group name was a few parentheses and one equals sign ... the browser "dead hung" after just a couple of seconds of attempting to load Group Management using Opera 9.23 (Build 8808).
It opened just fine (albeit after several seconds, hehe) in IE 7.0.5730.11