Can you see what your log.txt reports? You can find it in Documents/My Games/Terraria/Mod Loader/Logs.
Likely there is a mod conflict, but I'll attempt to debug this independently regardless. My impression was it working for multiplayer, but it's difficult to test each new version for multiplayer by myself, at the moment.
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Default Sort Selected
Default Sort Selected
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
The Lunatic config updated to 1.2.0
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
2:0 1,495,400,374.04 TheLunaticNetProtocol.ReceiveGivenMaskOnServer - Invalid mask from player EMO of type 2493
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
2:0 1,495,402,696.84 TheLunaticNetProtocol.ReceiveGivenMaskOnServer - Invalid mask from player XD of type 2112
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Failed to read Reduced Grinding's config file! Recreating config...
Button Adding...
...Button Added
Failed to read Reduced Grinding's config file! Recreating config...
Default Sort Selected
Failed to read Reduced Grinding's config file! Recreating config...
Hopes this helps