I have the same problems as reported by Dre and Nbk911. Unfortunately, however, mine still does not work. Latest firmware (3085) on a Samsung Galaxy S3. I can get the devices paired, and the SM timer shows up in green on the Trainer app. But I can't get the app to start the timer, nor will the timer send data to the app.
I've booted, re-booted, soft-booted, all to no avail.
Like others, one of the reasons to buy both the timer and the trainer app was that I thought I would get a record of my drills. This makes me wonder if I should just send everything back for refunds and start with a different setup.