Hey Mike, it seems that teleportation works just fine, so they must have removed the function for that reason.
As it turns out, my massive performance issues stemmed from the Interaction Engine. You see, I had a non-convex mesh which supported hovering, so every frame while I was hovering Leap had to determine the closest point on the mesh to my hand. This calculation is very fast for Convex Mesh Colliders and primitive colliders, but because I wasn't using either of those and my model had many vertices, the cost of calculating this was massive!
The interaction Engine was kindly warning me of this, but I rarely pay attention to logged warnings xD