I recently downloaded 1.4. I have no idea what version I had previously because it's been at least a year or more since I tried to play it on an actual SNES (that's why I originally forgot that it worked, it just didn't save). But, the readme I was referring to WAS included in 1.4 so this problem was either not fixed or they forgot to update the accompanying txt. Now that I'm certain I have the latest version I'll try again tonight.
Also, how'd you get that link? Every time I've tried to visit the Compenium for a while now it was like the site never existed and clicking the link resulted in "404 Not Found". Just curious.
EDIT: I finally got a chance to try out ver 1.4 on my SNES. It does indeed save now. Awesome.