I am very sorry you are running into this problem. Since you are still trying out the software, I'd like to first make sure it isn't a bug we've already fixed in our latest version. Please download our latest version from the website, 2011.1.502 and try that. If you continue to have this problem we'll dig deeper. There are a LOT of new features and bug fixes versus the 2010.3.1421 version you currently have installed.
the Telerik team
Do you think you know all the new features coming out in Test Studio R1 2011?
Think again - we have some surprises and will share them with you in the What's New in Test Studio R1 2011 Webinar on May 12th.