With all due respect, bug it's not confirmed, just another user states it have the same issue. I can't reproduce any of the things mentioned above, subtitle downloading function working great. If somebody on the support team confirm your report, then it's a confirmed bug.
My ideea, as you installed Windows 7, is that you don't have UAC disabled and even if subtitles are found, BSPlayer can't save the file on your PC as it does not have the right to write files.
As for the fact that sometimes "no subtitle found" pop ups imediately, in my case this is caused by a bad internet connection (usually) and more, sometimes subtitles providers change the way the database it's handled and until an update come up, subtitles can't be found any more.
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