One thing that might work if you havent tried it yet, is right-clicking on the character listbox on the left side of the profile manager window, as that should force it to reload the list.
Is the normal startup text showing when you run it? like this:
EQ Item Collection Engine v 2.0 (21.5) starting up...
Username set to: rale
Profiles enabled.
If so, can you check and see if an "itemcol.db" file is being created in the directory you installed to?
Some general info would be helpful also, such as what version of windows you're running.
- rale