I can confirm the problem seems to be related to running the portable version on Windows 7.
Opens fine on Win XP. You may need to wait for File_Girl71 to try to find a solution. Whenever that might be. She has not been online here for a little while.

Unlike Peerless, on my XP the portable connected to BS peers straight away. Strangely I connected to a few of the non-BS hosts that are on the connection list I posted here. One of the hosts I had not seen for quite a while.