The 1.4.7 minor update overhauls the header and footer logo support, this was needed as there were some environments where the correct directories (e.g. /uploads/wpsc/…/) were not being created.
The next Plugin update will add support for custom logo sizes as well as the ability to switch between cropped/uncropped oversized logo resizing. There’s a fix for tax support in there too, aiming for an end of week 1.4.8 release.
As always, download your Plugin update from Premium Plugin Updates or jump over to the Plugin detail page for more information.