Import broken or is it just me?

I'm using Diana 8733. On first start, it suggests that it can import my settings from a previous version. I'm on a mac, so I specify:

/Applications/IntelliJ IDEA 7.0.4.app

as my installation home for my previous version. Unfortunately, it doesn't pick up my license key or my settings. Any ideas? I'm on osx 10.5.4 with JDK 6.

Thanks,
Matt