Ive had this problem as well, but ive worked around it so that im able to play Ryzom again. I posted this in another thread for someone else (and myself) who were having the same problem. But heres what you can try out.
Load Ryzom in windowed mode, with default graphics settings, Log in, select your character, then let it start to load. While its doing this, alt tab and open up a web browser, or switch to a chatbox from one of the various messenger programs. This is done so that ryzom is not the primary program opened, but in the background. Stay this way until its completely finished loading and you see your character in-game.
Once your in-game, right click with your mouse on Ryzom's window(not the blue bar at the top but somewhere on the screen, as if you were right clicking on something in-game), making you switch back to ryzom (making it the primary program opened again). Once you do this, your character should be in Free Look mode, merely right click or left click again, and your golden mouse curser should appear.

And at that point you should be able to alt tab back and forth without locking up as well.
Atleast, this is how i got around my mouse completely locking up (and also my keyboard on some occasions) So i log in every time like this. Hope it helps
