First of all, congrats with 3d gen of PEC ! :D Thank you very much !
I'll do some more serious testing later but from the first brief look pec2ldr_reduced.dll is missing :o
The reduced size loader is only included in the registered version now. There has been such a problem with Malware authors abusing PECompact, I've had to restrict access to plug-ins. That said, I restored some of them to the trial build in the last update, and may restore a few more.
I have another update coming soon, where all the 'PECompact2' references are changed to 'PECompact' ;)