Lots of changes since this time last year. The version I'm currently developing should probably be numbered 3.0 instead of 2.0 due to the amount of changes. Here's a screenshot of the timer screen as it stands right now:

You'll be able to select from several backgrounds or use your own jpeg or gif file.
You'll be able to double click on any of the elements on the timer screen, such as any of the titles or values, to change the color to anything you want.
Chip colors are also 100% editable and you can select white or black text for each chip color.
Here's a screenshot of the main setup page. It still needs to be cleaned up a bit, but as you can see, you no longer go into an Excel spreadsheet to enter/view data. It's all on forms, which makes for a better, more professional user interface.

Other major improvements include full player / table management and integration between the program and the website for posting tournament announcements (see
http://simpletourneymanager.com/index.php?topic=42 for a sample).
More news and screenshots will be posted soon...