I was able to reproduce this a few times by doing this:

Start web2py:
python web2py.py -a password -i 0.0.0.0 -N

Navigate to the admin app from another computer (important):
http://192.168.1.10:8000/admin

You will get the "admin is disabled" message. Now try to Control + C 
web2py. For me, it took about 30 seconds to quit.

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