FYI... I just installed the new version, but suddenly my user variables no longer work. I haven't dug too deep yet, I'll try to investigate more.
EDIT: Well, now I don't know... some of my user variables are no longer working. I have a user variable called UtilitiesHome in the [Environment] section of my user variable definitions that references C:\Utilities. Using %uservar.Environment.UtilitiesHome% in an alias no longer works. However, a similar reference to C:\Program Files by the ProgramFiles variable in the same [Environment] section seems to work just fine.
I've also noticed that any alias that launches a program brings up a dialog asking which user to run the program as (WinXP, SP3)... that could get annoying, since I just want them to all run as me (I'm on an admin account... yes, bad form, I know). Doesn't seem to affect programs that are launched from search though - just aliases.
EDIT 2: Argh, actually, in order to run as the current user, I have to uncheck the box that says "Protect my computer and data from unauthorized program activity" every time I run it - otherwise it won't launch at all. Sorry for all of the edits.