Guys I am pretty sure there's something going on with the changing of the default projects folder. I would suggest just leaving that at default until they track this down. They have it on their todo list is about all I can tell you at the moment.
If you cannot get it to change back to the default one in the program (if it keeps locking up that is) I would try reinstalling to revert it back to the original locations (unless you know how to do it manually which is possible, but I'll not get into that here lol). That should revert the directory back to the original and you should be fine from then on.
Your projects will still work, and the only thing that will be an inconvenience is that you cannot see them all in the file tree on the left to access them at any time. If your projects are setup though you can just choose them from the drop down list to open them one by one. Inconvenient yes, but doable for now if you can hang in there for a fix on this.
This doesn't affect every user apparently, so if you don't have this issue then count yourself as a lucky one