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TypeStyler's Online Help can be accessed here: http://www.stridersoftware.com/help
We've been running the current version of TypeStyler extensively on Mountain Lion on several Macs and have not experienced any issues whatsoever.
Kerning is done a little differently from previous versions of TypeStyler. We used to use the kerning pair information. However, now that you can mix typefaces within a text object, that information is no longer relevant. Both Kerning and line spacing are done in the Typesetting floater, which you get from the TypeStyler Tool Bar.
In this case, you need to be in edit mode. To do this select your text object and then Command - T to enter edit mode. Highlight the letter the you want the kerning to follow then use the Letter Spacing slider under the Character tab in the Typesetting floater. For example, if you had the word "Type" and wanted to kern between the T and the y highlight the T and then use the Letter Spacing slider. To adjust the Line Spacing open the Typesetting floater and then select the multi-line. With the object selected click on the Layout tab. You can then use the line spacing slider to adjust.
Depending on where you are taking the exported work from TypeStyler, either exporting as a .psd (Photoshop) or as a .png will give you the transparent background that you are looking for. If you're doing pure vector graphics, then exporting as Illustrator would be your best bet.
TypeStyler provides the ability to import Illustrator files. In order for TypeStyler to recognize the vector paths, you'll need to save them as a Legacy Illustrator (or Illustrator Legacy) file. Depending on which version of the Adobe Creative Suite that you're using, you'll choose either "Save As" or "Export as Illustrator Legacy".