Apple has released iPhone 1.1.3, and it breaks iPhoneRingToneMaker. As a result, if you upgrade to iPhone 1.1.3, all your custom ringtones may be wiped off or won't play, and any new ringtones added will not play.
Apple has intentionally broken iPhoneRingToneMaker before, and we successfully modified our product to make it compatible with those updates. We will do our best to get iPhoneRingToneMaker working with this latest update, and will let you know when a fix is found.