Filthgrinder, what resolution are you running the game at?
Does it respond better at a different resolution?
If it will not let you enter the game, you can try editing your prefs.ini file in notepad. This file can be found in /Documents/My Games/Elemental/
There is a part near the top for resolution:
[Video]
DisplayWidth=1024
DisplayHeight=768
Try adjusting this to your screen's resolution. Perhaps with it resetting your prefs, it defaulted to a lower resolution.
Also, in future updates, we will no longer be clearing out the settings.