I tried LAA on an application (I think it was Mass Effect 2, a SecuROM 7 protected executable) and the application failed to run afterwards (never launches after clicking on it). I ran LAA on it again and the application started right up (limited to 2 GiB again though). Applications are pretty blunt with you if they don't want that bit changed. XD
Basic mode will look almost exactly like it did in 1.0 except it has the menu bar at the top.
Edit: Basic mode integrated and functional:
Intermediate mode integrated and functional:
Advanced mode integrated and functional:
The options menu is gone for the time being but I could easily add it back later.