I've been using Deluge on Windows for ages but haven't tried the new release as yet. If you want the old version can you not get it from scourceforge or somewhere similar? I've found that, if you search hard enough, every version of every bit of software ever released is out there somewhere! I'm sure you'll be able to find it. Then, perhaps wait for a more stable Windows release?
Are you running Vista or XP? Maybe you could fix the problem on Vista by uninstalling it and installing XP? Seems to work for most problems! Lol!
Sorry it's been a while, just stumbled across the problem you were having a few days ago, posted in a different thread. If the daemon isn't running the preferences will be grayed out as you pictured. And also torrents won't load. So, make sure it is running (and connected to it).
Preferences, Interface, Classic mode disabled, apply and restart in order to start it manually or edit it.