When running against an ASE 12.5.3 database, the error 'Invalid column name 'encrkeyid'' is displayed when double-clicking on a table in the Object Explorer.
The issue is resolved in the v1.3 release.
This is available in the beta version. Download from:
http://sqloptimizersybase.inside.quest.com/pageloader.jspa?sbinPageName=beta_toadforsybase.htm&sbinPageTitle=Toad%20for%20Sybase%20Beta