A patch has been available that fixes this issue.
The patch can be downloaded using this LINK.
Please extract the executable contained with the zip file and run it. Follow the on-screen instructions.
This patch will be included in the next official release of SQL Backup V7.3 scheduled for release in Q1 2013.
PLEASE NOTE - This build has not under gone the full pre release testing cycle, so therefore use at your own risk. No problems were observed from the small amount of testing Red Gate has performed, sorry if this is stating the obvious, please try out in a test environment before installing onto production machines.
Any feedback regarding this patch, please contact the Red Gate Technical Support Team - firstname.lastname@example.org