How do I fix the delay on my Razer Naga's buttons?

The reason that the mouse does this is because it enters sleep mode when it stops moving, it seems that in your case the timer is affected which makes it enter sleep mode way too fast. For the device to return from sleep mode it has to reconnect Bluetooth, which can indeed take 5-10 seconds.

Take the warranty road, or send it in for a repair. But it seems that you decided to break it instead...