On three computers I've had the same problem when upgrading to the new version, when you hit the red rocket nothing happens and yes it is pointing to the Blitz directory.
I'm using BlitzPlus with the 1.35 patch, I do not want to use the Blitz IDE but the older version of Visual Blitz won't light all the new B+ commands.
I'm using BlitzPlus with the 1.35 patch, I do not want to use the Blitz IDE but the older version of Visual Blitz won't light all the new B+ commands.