Just noticed the same issue after upgrading Matlab from 2013b to 2015a. Seems like the implementation of importdata changed slightly and the new version introduced a function 'fixLineEndings', which apparently needs a lot of memory. Further investigation suggests MathWorks use fixLineEndings() first to convert line ending character(s) to '\n' and use such line ending character in the rest of the code.
I modified the code of importdata.m to avoid calling fixLineEndings() and remove the assumption of line ending character as '\n' in the rest of the code. Then I used pcode() to generate the corresponding importdata.p. Now the memory usage goes back to previous level.
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