Thanks for bringing up this issue!
Recently, many users reported performance related problems with the News Archive control. That is why we decided to rework it and to temporarily hide it from the Administrative section. We are sorry for not communicating that earlier to the community!
Per most recent schedule, we will not be able to include the archive control fixes in the coming Sitefinity 3.2. SP2 release by the end of May. What we are planning to do right after the release is deliver a KB article detailing how users can create and use news archive controls.
Once again, thanks for notifying us of the caused problem. Your points have been updated.
the Telerik team