Get error "The application has encountered a problem" when trying to use any function in Toad (45041)

When trying to access any function in Toad I get and error saying, "The application has encountered \ problem. We are sorry for the inconvenience".

See attached for a screen shot of the error message.

This message occurs when a new session is connected to and whenever a new window is opened in Toad.

WORKAROUND #1:  
Turn off the Toad  Tips feature.  

WORKAROUND #2:
1) Close  Toad.
2) Open the Toad.ini file, located in the Toad for Oracle/User Files directory.  
3) Find the ShowToadTips entry. If it says ShowToadTips=1,  change it to ShowToadTips=0.
4) If that solves it, then try setting it back to 1, and delete ToadTips.dat


STATUS:  
Waiting for fix to be released in a future release Toad for oracle.