Reference 3.1 It features more advanced target curve customization and six new supported headphones.  
Now Sonarworks headphone calibration can be used with:
 
AKG K271 MKII
Beyerdynamic DT770 250 Ohm
Focal Spirit Pro
KRK KNS 8400
Sennheiser HD25-II
Sennheiser HD800
 
 http://sonarworks.com/

You also get a NEW Demo period with code to use...

However, there appear to be NO presets ....which renders it useless...

Not sure about the demo but the full version will install the correction files in your Documents\Sonarworks folder. Just need to point thee vst plugin there to pull up the curve you want to use.
 
I love this because they did implement one of my suggestions. The standard curve on the AKG240 Studios seemed a bit heavy in the low end but you could not reduce this. You could add low end but not remove low end. Now you can and I have them sounding very similar my nearfield monitors. Great update Sonarworks!

That folder opened when I hit the presets button but there was nothing in it...

However I did realize that it stated it needed to restart, and I haven't done
that yet...

Same here Larry. I tried restarting but no bueno. I'm hitting up supprt. If I get an answer, I'll post it.

Jimbo...I did a reinstall, selected "repair" and everything was fine...all the presets showed up...

Hey guys,
 
We've added some new functionality behind the scenes which needs some work from our servers. Namely - the new average and your individual profiles get downloaded automatically from our server. Sometimes it takes more time than anticipated (especially when everyone is rushing in to get the newest version), so some patience is required.
 
Drop me a message if you need any assistance, I'll be happy to help!

Thanks for the update.
No problems here.

Thanks Larry. I'll try reinstalling later today.