B2M stand alone is essential just substance player that automatically loads the Archive file for B2M3, it might be that it is loading the demo or lite archive instead, try going to file open and making sure it is loading the Bitmap2Material_3-1 Archive file, which if you used the default installed, goes to C:\Program Files\Allegorithmic\Bitmap2Material\3\data.
I will boot it up later today as I have just had to re install it myself and I will do some testing for you.
Regards
Joel B