Thank you for writing back.
I would advise you to upgrade to the latest version - Telerik Reporting Q3 2007 SP1
(assembly version is 126.96.36.199), as it comes on board with many new features added as well as a lot of problems fixed.
In the current version, the databinding to the Business object is slightly changed. In the attached project, you can find an example. Please note that this example should work with the latest version of the Reporting.
I hope this helps.
the Telerik team