Carpo: Are you using a 64 bit OS like win7 x64? ioZS 2.0 stores it's settings in the registry and for some reason it can't access any string data in the registry under 64 bit OS's so the whole thing breaks. I believe it still works fine under win7 x32 though. I've tried a variety of compatibility mode options to try to get it to work but didn't have any luck so time to switch to something else...
I thought it might be something like that guess it doesn't like the \Wow6432Node\ioZS part, should have stuck to the .ini method, least that would have worked no matter what the OS, ioninja works fine so i am still using that, just felt like testing it out