I have two questions, did you download minecraft_server.jar or minecraft_server.exe? Did you delete the META-INF folder? If you deleted the META-INF folder, try it again and do not delete this folder
Are you sure it only happens with the faster tools mod? It honestly sounds just like normal server lag to me, also I'm not certain what this has to do with Forge
This looks suspiciously similar (as in exactly the same) as the "java.lang.NullPointerException with com.pclewis.mcpatcher.mod.something" in the common issues thread you should read before posting, short story short, why the hell are you using MCPatcher?