I had the same problem. Turned off GPU rendering and it works now.
Diagnostics:
Application paint.net 4.0 (Final 4.0.5288.36565)
Build Date Tuesday, June 24, 2014
Hardware accelerated rendering (GPU) False
Animations True
Language en-US
OS Windows 7 Service Pack 1 (6.1.7601.65536)
.NET Runtime 4.0.30319.18444
Physical Memory 8,104 MB
CPU Intel(R) Core(TM) i5-2430M CPU @ 2.40GHz
Architecture x64 (64-bit)
Process Mode 64-bit
Speed ~2394 MHz
Cores / Threads 4
Features DEP, SSE, SSE2, SSE3, SSSE3, SSE4_1, SSE4_2, XSAVE
Video Card NVIDIA GeForce GT 520M
Dedicated Video RAM 978 MB
Dedicated System RAM 0 MB
Shared System RAM 3,071 MB
Vendor ID 0x10DE
Device ID 0x1050
Subsystem ID 0x16F21043
Revision 161
LUID 0x00008A17
Flags None
Outputs 1
Video Card NVIDIA GeForce GT 520M
Dedicated Video RAM 978 MB
Dedicated System RAM 0 MB
Shared System RAM 3,071 MB
Vendor ID 0x10DE
Device ID 0x1050
Subsystem ID 0x16F21043
Revision 161
LUID 0x000092DF
Flags None
Outputs 0