It's hideous and uses a completely wrong metaphor. It's like an MFC wizard app from 1996. Toolbar buttons for creating new password databases? Requiring manual saves, so that it loses your password if you accidentally close without saving? The way it's currently set up, it thinks it's an editor for password databases, you know, for all those password databases you edit on a daily basis, email around the company, etc.
It ought to have a search-oriented interface, perhaps bound to a hotkey, perhaps with pinning of commonly used passwords - almost anything would be better than the treeview / listview combo. Auto-save should be the default, as well as versioning, and it should be damn hard to lose passwords even when your database is stored on dropbox and has conflicting updates from multiple locations.
It makes me angry every time I have to use it.