Finally found some time to look at this again.
1) Checked CVS history on one file and CVS diff on another - worked fine.
2) Re-downloaded the Fences beta to ensure I had the latest one.
3) Installed the Fences beta, restarted, and waited for all my usual apps to completely load.
4) Right-clicked on my desktop, then clicked View/Configure Fences. Waited - no activity.
5) Checked Task Manager - no sign of "Fences Settings"
6) Tried View/Configure Fences again. Waited - no activity.
7) Checked Task Manager - no sign of "Fences Settings"
8) Retried CVS history. Worked.
9) Retried CVS diff. Worked.
Conclusion: The CVS issue I encountered must have been an anomaly. However, configuration on this beta version of Fences doesn't appear and shows no signs of having been loaded.