Hey Kayla,
There isn't much you can do. EigenD is set to a fixed memory buffer in which the sound can be 'delayed' while the virtual instruments are being processed. This introduces latency and allows your CPU to compute for a while. The shorter this buffer, the shorter the latency, the better playability, but the quicker your CPU has to be done with all its computing. The trade-off is generally to increase the latency to find the best compromise between playability and CPU load. Sadly though, EigenD doesn't allow this atm but they're going to possibly include it in a future release.
Now, let's be realistic however. The Cello and Clarinet and quite CPU hungry since they're modeled instruments, Alchemy is also since it's quite a complex synthesizers. Outside of Eigenlabs world many people are even happy with one or two virtual instruments that they can play in real time with little latency. You're playing five!
One of the 'tricks' is of course to get a faster computer. Personally I've had many success with digital music using CoolBook, which I described here: http://eigenzone.org/2009/12/07/performance-tip-check-out-coolbook/
Before using CoolBook on my previous Macbook Pro, it was almost impossible to use it as a digital FX processor for my guitar together with one (!) virtual instrument through MIDI. When I started using CoolBook, this was solved. It's not free though, but it's quite cheap, and you can't do anything bad to your machine.
Hope this helps,
Geert