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There was mass hysteria on the team about there being many triggers on the table getting updated. I did a performance test, enabling only one of the triggers at a time. Turns out only one trigger causes any performance change. I studied the code of that trigger, and found that it updated a lot of records for each update. Not good.
My rewrite was to disable the trigger during the large update. However I did not want to disable the trigger for all users, just the one doing the update. There seems to be no Oracle support to disable a trigger per session. So I used Murnane's technique to implement a disabled trigger per session. I tested this out with some profiling SQL scripts. Now I am putting this in the application. Let's hope for speedy returns.