In case there are others who are having note placement problems, do try adjusting your screen settings (resolution, DPI, etc.) especially if you've customized these as the settings may also affect how LMs displays notes during playback.
About the latest version, we'll be writing the latest version number whenever we release a new one just beside the software download link in KL's post here:
http://forum.brillkids.com/beta-testing-b282/little-musician-beta-testers-welcome!/