I am not familiar with tools specifically designed for analyzing ViewState of different elements on asp.net page.
I almost never save the ViewState of table elements such as DataGrid or GridView, as these elements have HUGE ViewState objects that are no longer needed in most cases. You need to think logically what element state you need to save for the user.
You can also turn on 'Trace', proxy sniffer tools like Fiddler and various performance add-ons (like YSlow for FireFox) to see if you are re-sent to the server on every call and how long you return, where is the main time takes time and try to figure out which data is not needed.
Good article on improving asp.net web application performance: http://www.dotnetfunda.com/articles/article45.aspx
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