They released a new version of the software, and I tried it out just now (v1.03) --

They claim to have fixed the issue with extended ASCII names and the armory profile -- that didn't work (and indeed, they updated their blog to say it'd be fixed in the next software rev).
You are still unable to bind key combinations (i.e. SHIFT+K or ALT+1 or CTRL+ALT+SHIFT+7). It will press and release shift/ctrl/alt and then press and release the next key rather than pressing them simultaneously.

Still a lemon.