I have the Mac App Store version and the Chrome extension was failing to update after I changed the master password. It would take the old one but never update to the new one.
I uninstalled the extension and re-installed it now it won't connect at all. Enter either password and it just says Connecting . NNN -- I followed the troubleshooting, restarted helper, rebooted the box. Repaired Permissions...Nothing seems to work, just have the little red bang light on the extension.