When launching Toad, the Database Login window appears, click on the "TNSNames Editor" button and the error appears:
Expected token 'oef' found ':'.
Go to View | Options | Executable and click the auto find (flashlight) icon next to TNSping.
Update to the latest version of Microsoft MSXML.msi. Please refer to http://www.microsoft.com/downloads/Search.aspx?displaylang=en to download this version.
Waiting for fix in a future release of Toad for Oracle.
Issue has been tested and resolved in Beta 9.6 version of Toad.