What steps will reproduce the problem?
/spellbinder
No other addons installed. WTF folder removed.

What is the expected output? What do you see instead?
Open the Spellbinder frame.
Error message below.

What version of the product are you using?
Normally: 2.0-release
Currently: r4 (to see if it made any difference)

Do you have an error log of what happened?

[2009/02/05 17:21:39-1942-x1]: AceConfigDialog-3.0-25:1655: AceConfigRegistry-3.0:ValidateOptionsTable(): SpellBinder.args.school3.name: expected a string or funcref, got 'nil'
AceConfigRegistry-3.0-6:42: in function <...-3.0\AceConfigRegistry-3.0\AceConfigRegistry-3.0.lua:37
AceConfigRegistry-3.0-6:173: in function <...-3.0\AceConfigRegistry-3.0\AceConfigRegistry-3.0.lua:168
AceConfigRegistry-3.0-6:207: in function <...-3.0\AceConfigRegistry-3.0\AceConfigRegistry-3.0.lua:182
AceConfigRegistry-3.0-6:217: in function <...-3.0\AceConfigRegistry-3.0\AceConfigRegistry-3.0.lua:182
AceConfigRegistry-3.0-6:248: in function `ValidateOptionsTable'
AceConfigRegistry-3.0-6:294: in function `app'
AceConfigDialog-3.0-25:1655: in function `Open'
SpellBinder-1.2\SpellBinder.lua:30 in function `value'
Interface\FrameXML\ChatFrame.lua:3231 in function `ChatEdit_ParseText':
Interface\FrameXML\ChatFrame.lua:2930 in function `ChatEdit_SendText':
Interface\FrameXML\ChatFrame.lua:2951 in function `ChatEdit_OnEnterPressed':
<string>:"*:OnEnterPressed":1: in function <[string "*:OnEnterPressed"]:1>

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Please provide any additional information below.
Addon works for all other toons except any newly created toons. For the purpose of trying to trouble shoot I had removed all addons except SB and removed the wft folder and let blizz recreate the folder.