Yes - the upgrade will solve your issue.
You may try the Customization
demo. It is using our the latest version - 2011.3.1115.
Under the 'Appointments' section you may change the settings and see the result.
the Telerik team
If you want to get updates on new releases, tips and tricks and sneak peeks at our product labs directly from the developers working on the RadControls for ASP.NET AJAX, subscribe to their blog feed