MFWA down - Server Error in '/' Application

Last night's M-Files update seems to have broken MFWA for me. I am getting Server Error in '/' Application with the following stack trace:

[NullReferenceException: Object reference not set to an instance of an object.]
   MFWA.Global.Application_Start(Object sender, EventArgs e) +253

[HttpException (0x80004005): Object reference not set to an instance of an object.]
   System.Web.HttpApplicationFactory.EnsureAppStartCalledForIntegratedMode(HttpContext context, HttpApplication app) +520
   System.Web.HttpApplication.RegisterEventSubscriptionsWithIIS(IntPtr appContext, HttpContext context, MethodInfo[] handlers) +176
   System.Web.HttpApplication.InitSpecial(HttpApplicationState state, MethodInfo[] handlers, IntPtr appContext, HttpContext context) +165
   System.Web.HttpApplicationFactory.GetSpecialApplicationInstance(IntPtr appContext, HttpContext context) +267
   System.Web.Hosting.PipelineRuntime.InitializeApplication(IntPtr appContext) +341

[HttpException (0x80004005): Object reference not set to an instance of an object.]
   System.Web.HttpRuntime.FirstRequestInit(HttpContext context) +523
   System.Web.HttpRuntime.EnsureFirstRequestInit(HttpContext context) +107
   System.Web.HttpRuntime.ProcessRequestNotificationPrivate(IIS7WorkerRequest wr, HttpContext context) +688

Is anyone else having the same problem?