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Ah doh! That's it. I completely overlooked the fact that testnet uses a different port! It's purring like a kitten now! Thanks UdjinM6.

Thanks for the suggestion UdjinM6. When typing masternode start without the password, the console still freezes, but the log gives a slightly different error: 2014-08-16 22:51:19 CDarkSendPool::RegisterAsMasterNode() - Invalid portEnvShutdown exception: Invalid argument (22)

Hello everyone, this is my first post on this forum... I hope it's the right place to post this. Feel free to tell me to post this elsewhere, or maybe a mod can move it. I'm having a slight issue with setting up a masternode on testnet (to test things out before setting up my masternode on...