I am also having significant troubles after today's update. On my screen I am seeing the XP default skin. However going to "Display/Properties/Appearance" I am shown that WindowBlinds is installed and that my selected WindowBlind is selected and operational. However the WindowBlinds icon is NOT appearing in my System tray.
When I select WindowVBlinds (the application) I am only told that I will have to reboot and disable antivirus applications, etc. However, the installation of the latest version of WB this morning was through Stardock Central and I received no alarms from my antivirus application (ZoneAlarm Internet Security Suite.) I have now rebooted three times and the situation hasn't cleared up. I can't/won't disable my antivirus application for WindowBlinds.
I am operating XP Pro.