I've purchased Fences Pro last night.

Downloaded and Installed (via Impulse) without any problems.
I selected from the desktop context menu "Enable Fences"
Then can Right Drag a rectangle around some icons - and name the Fence.
Double Click & icons disappear. Again and they come back.
Lock Fences does what it should.

Select "Configure Fences..." from desktop context menu (right click) and I get nothing. (no menu, no popup, no error, no activity... nothing)

following the instructions from http://forums.impulsedriven.com/368222/page/1/#2752364

I get this:

[2452] WM_CONTEXTMENU-Start
[2452] WM_CONTEXTMENU: Too small a distance
[2452] DllGetClassObject on FencesMenu
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00a78 {00000001-0000-0000-C000-000000000046} [S_OK] 9c00a78
[2452] Shell folder 9c00aa8 creating
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00aa8 {000214E4-0000-0000-C000-000000000046} [S_OK] 9c00ab0
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00aa8 {000214E8-0000-0000-C000-000000000046} [S_OK] 9c00aac
[2452] DesktopDock_ContextMenu::Initialize
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00aa8 {FC4801A3-2BA9-11CF-A229-00AA003D7352} [E_NOINTERFACE]
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00aa8 {79EAC9EE-BAF9-11CE-8C82-00AA004BA90B} [E_NOINTERFACE]
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00aa8 {924502A7-CC8E-4F60-AE1F-F70C0A2B7A7C} [E_NOINTERFACE]
[2452] DesktopDock_ContextMenu::Initialize Finished - No Object
[2452] DesktopDock_ContextMenu::QueryContextMenu
[2452] DesktopDock_ContextMenu::QueryContextMenu - InProgman
[2452] WM_INITDOCKMENU-Start
[2452] WM_INITDOCKMENU-OK, adding menu items
[2452] WM_INITDOCKMENU done
[2452] DesktopDock_ContextMenu::QueryContextMenu - InProgman, Fences Loaded
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00aa8 {FC4801A3-2BA9-11CF-A229-00AA003D7352} [E_NOINTERFACE]
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00aa8 {79EAC9EE-BAF9-11CE-8C82-00AA004BA90B} [E_NOINTERFACE]
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00aa8 {924502A7-CC8E-4F60-AE1F-F70C0A2B7A7C} [E_NOINTERFACE]
[2452] DllCanUnloadNow on FencesMenu (lock count 0, pid 2452)
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00aa8 {FC4801A3-2BA9-11CF-A229-00AA003D7352} [E_NOINTERFACE]
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00aa8 {79EAC9EE-BAF9-11CE-8C82-00AA004BA90B} [E_NOINTERFACE]
[2452] DllGetClassObject InternalQueryInterface on FencesMenu: 9c00aa8 {924502A7-CC8E-4F60-AE1F-F70C0A2B7A7C} [E_NOINTERFACE]
[2452] Shell folder 9c00aa8 destroying
[2452] WM_CONTEXTMENU-End
[2452] WM_DOCKMENUINVOKECOMMAND
[2452] WM_DOCKMENUINVOKECOMMAND DONE

System Specs:

OS: MS Windows 7 Pro 32-Bit
CPU: Intel Core2Duo E6600
RAM: 2GB
Mobo: Gigabyte GA-N680SLI-DQ6
GPU: GeForce 8800GTS 320MB