I opened the Browser Settings form from the \Program Files\Metastorm\BPM\Administrative Tools\Administrative Processes folder and found that I could only open it in read only mode.
The issue was that under Windows 7 you can apparently only open files in the Program
Files folder as Read Only.
If you want to change them, you have to copy them into your Documents folder, change them there and copy them back again.
I'm told it's a Windows 7 thing.