I had the same issue. I am running a dual boot sys with XP Pro SP3 32-bit and Win 7 Pro 32-bit. Control panel works fine in XP. Fixed it by changing to XP SP3 compatibilty mode. Go to Program Files\Stardock\CursorFX and right click CursorFX control panel.exe and select properties and select compatability tab. Also, I had 3 themes that somehow got changed to (theme).CursorEXScheme, possibly by Win 7 easy file transfer? Check your file extensions, in Users\Public Documents\Public\Stardock\
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