Hi jukehazzard,
This is a known issue which is specific to Ableton Live. For some reason you can't have the AU and VST active at the same time. If you'd like to use the AU, you can do so by removing the VST from the plug-in folder. I believe we'll have this fixed in the next release, but I didn't wan to hold up this release since there is a fairly easy work around.
Thanks,
Dan
