should work. The only thing that I could imagine causing problems are if the balance were too small (or the distance too small) so that the orders would be less than 0.01 BTC and this would not be allowed on MtGox. Then goxtool would round up to 0.01 BTC and that could cause it come out of balance too far. How large are the orders it has placed?

I'm running my balancer currently with $30k USD and 36 BTC, my order sizes are 1.79 and 1.98 currently (at 11% distance)