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You might want to check your Explorer settings. BeerSmith uses Windows explorer to display information and if there is a problem with the settings in windows explorer it will not display correctly. Also you need to check to make sure you have permission to write to the C:\Program Files\BeerSmith\templates directory as this is the temporary area used for generating reports.
I've found that those running as limited users can have this type of problem with Windows 7 and Vista (the permissions issue). One simple way around this is to install BeerSmith to a directory under your main users "Documents" directory and run it from there.
I'm also running Windows 7 released version today now and it is working correctly on my copy.