Hello,
Converter uses 'tar' to copy all files from the source machine. This error usually is 'tar' becoming unresponsive practically indefinitely. IIRC this has happened previously while cloning some /home volumes.
Get the conversion logs, have a look at the helper log (it is buried deep down inside several tarballs) and check which volume causes the problem. If this is neither the root nor the boot one, try to convert w/o it (uncheck it in the wizard) and then copy the files manually after the conversion.
HTH,
Plamen