I recently updated to v0.4.7 from 0.3.5 and found it necessary to disable the Multi Process Mode because it was causing major problems. I could not view local files at all. Whenever I attempted to open a local file with any version of IE, I'd get an error message stating that the requested IE version could not be loaded. Though I could open online pages through the individual version tabs, opening online pages with the All IE Versions tab got the same error message. Once I'd get that error, no pages would load at all until I closed the program and restarted it.

I am on a Windows XP machine, so perhaps this is an issue only with that operating system. I tested versions all the way back to v0.4.2 and encountered the same problem. It took me a while to figure out that the issue was with the Multi Process Mode.