Edit: Yes, that is what caused it. Everything was fine until I right clicked and chose install. Then the playlist disappeared when I went to screensaver properties.
The playlist bug with the contents disappearing, was when Right-click/Configure was used outside of MA3 to access the MA3 Settings, - as opposed to accessing the settings from 'within' MA3..... That bug was fixed with 11d.
Conversely, as I see it, - Right-click/Install will "Install" a new version of MA3 in the Display Properties/Screensaver list, (replacing any existing MA3), and because it is a new installation, not surprisingly it only has the default music, ie, the playlist will be empty.
But if you then re-add to the playlist, the re-introduced contents will not be lost when re-entering the MA3 Settings either from within or via Right-click/Configure. - But they will be lost if you Right-click/Install, because you are replacing an existing version with a new installation.
That's how it works for me on my Win2kPro system.... and I'm quite satisfied with it. - That's how I think it should work.