Well, not running the macros got me a little farther. When the .tap program loaded, I got an error:
Cannot do G1 with zero level feedrate
I thought that was strange, so I edited the .tap and inserted F#1001 after the G01 instructions. When I hit cycle start, the probe dropped down to Z=0, rather than .025" - so I realized it wasn't picking up the values from the config program.
I re-ran the config program, checked the registry (all values correct) and hit cycle start again. Sure enough, the probe moved down to Z=0 and then I got the "Cannot do g1" error once more.
So, unless I have something misconfigured, there is definitely a problem with the newer version of Mach and the probing macros/routines.
Thanks very much,
Steve