Seems com.apple.IconServices was using up a bit much of my cpu as the fans were whistling away. Fired up Console.app and saw several identical and consecutive entries like:

8/21/14 12:50:34.008 AM com.apple.IconServicesAgent[18804]: Failed to write file /var/folders/9q/08gbl69j4p93h7h59f57m8r00000gq/T/com.apple.IconServices/22C30777DAAC89CE8ADF68CE540ED9EE.iscachebmp.tmp to cache.
	1   IconServices                        0x00007fff8caa7b85 ___ZN18IconImageGenerator4mainEv_block_invoke7 + 634
	2   libdispatch.dylib                   0x00007fff80ae028d _dispatch_client_callout + 8
	3   libdispatch.dylib                   0x00007fff80ae1146 _dispatch_barrier_sync_f_invoke + 39
	4   IconServices                        0x00007fff8caa75ba _ZN18IconImageGenerator4mainEv + 734
	5   IconServices                        0x00007fff8caa8ea8 _ZN11WorkManager11processWorkEP4Work + 112
	6   IconServices                        0x00007fff8caa8e1f ___ZN11WorkManager11enqueueWorkEP4WorkU13block_pointerFvS1_E_block_invoke_5 + 26
	7   libdispatch.dylib                   0x00007fff80ae31bb _dispatch_call_block_and_release + 12
	8   libdispatch.dylib                   0x00007fff80ae028d _dispatch_client_callout + 8
	9   libdispatch.dylib                   0x00007fff80ae47e3 _dispatch_async_redirect_invoke + 154
	10  libdispatch.dylib                   0x00007fff80ae028d _dispatch_client_callout + 8
	11  libdispatch.dylib                   0x00007fff80ae2082 _dispatch_root_queue_drain + 326
	12  libdispatch.dylib                   0x00007fff80ae3177 _dispatch_worker_thread2 + 40
	13  libsystem_pthread.dylib             0x00007fff8b529ef8 _pthread_wqthread + 314
	14  libsystem_pthread.dylib             0x00007fff8b52cfb9 start_wqthread + 13

Based on the error log from Console.app, it appears com.apple.IconServices is trying to write something here:

/var/folders/9q/08gbl69j4p93h7h59f57m8r00000gq/T/com.apple.IconServices/

To fix this, I just created a new directory in Terminal.app:

sudo mkdir /var/folders/9q/08gbl69j4p93h7h59f57m8r00000gq/T/com.apple.IconServices/

Gradually the cpu dropped back down and all returned to normal.