You need to uninstall the razor you have (do it from the all programs > razor) and keep your profiles and such if you want (the uninstall will ask you). Also, make sure you dont have UO and Razor running. After you do that, get the newest version and reinstall it. Post back here if you still have problems after that.
And Zippy, thanks very very very very much! I can't stand to play UO without Razor, and its working just fine now!
Razor > all other 3rd party programs!