August 2012: You'd never know from the Martha Stewart website, FAQs or Customer Support how to get MarthaStewartLiving working. It has been incredibly frustrating. However, I did it. Just delete MarthaStewartLiving , then reload it. Voila. Everything suddenly works. I have no idea why, but they should make this work-around common knowledge. It DOES work, you just need to delete and reload the entire app. All your purchases from within MarthaStewartLiving (ie, all the issues you subscribed to or purchased) are preserved.
So now, 6 months after subscribing, I can FINALLY see the magazines. However, I'm only giving MarthaStewartLiving 2 stars because it takes more than 45 minutes using fast WiFi to download an issue, making it NOT an advantage over buying the newsstand issue.
July 2012: I've had MarthaStewartLiving for about 4 months and updated it constantly. It does not work on my iPad 3. It crashes every time I open it and I cannot use it at all. When it did work, once several months ago, it took forever to download an issue and you had to stay in MarthaStewartLiving to do so. More than one hour later on a fast DSL wifi connection and I gave up. I have not been able to read a single issue.