Marc,
Have you checked the compatibility directory -
Under Vista you may also have a "Compatibility files" directory that shows up on the toolbar when you go to the BeerSmith directory. This is where your data and the opts file likely lives. The full path to the compatibility diectory is: C:\Users\{USERNAME}\AppData\Local\VirtualStore\Program Files\BeerSmith
where USERNAME is your login name for Vista.
If you delete the newopts14.opts directory there you should be in business. However if that does not work there is also a patch available here:
http://beersmith.com/beersmith_patch.zipFinally - if all of that fails you can try uninstalling (make a backup) and then just install BeerSmith to a subdirectory under your Documents directory. In some ways this is the best option as it bypasses all of the "Vista features" that complicate backing up your recipes and files.
I apologize for the problem - some of it is inherent in the way Vista handles Program files, and I'm working to restructure the storing of files in the future version.
Brad