I installed the free version as a test and everything worked fine. So, I purchased the standard version, uninstalled the free version and installed the Standard version.
It's setup the same but not working. Here's the log info:
2009-03-12T17:53:02: Processing account
cam@stclementpc.org on server stclementpc.org
2009-03-12T17:53:03: 4 message(s) on server
2009-03-12T17:54:08: Error connecting to SMTP Server (mail1.sccc.local): Error logging off from server: Object reference not set to an instance of an object.
2009-03-12T17:54:08: Finished Processing 1 accounts.
Note: the free version was not installed on the Exchange server. I ran the test on a beta PC. I installed the Standard version on the Exchange server and changed the SMTP/Access/Connection settings to 127.0.0.1