I have to hit F5 several times before the remote directory listing comes up. Doesn't matter if it is my server or someone's server who has given me access. Do I have a setting wrong as this has been going on since I've had Direct FTP (Dec 12, 2011).

hmm sounds like your server is doing that rather than the program. What version of the software are you using? I am using the most recent version and my F5 does an immediate refresh each time. My guess is you have some lag between you and your server maybe? Do you have any issues with any other FTP that might test that theory?