Over on the KVR Mobile forum, member Breeze posted a reply he received from Moog about the Animoog update. There are some great details in here, especially for saving your presets!

Due to high volume of e-mails relating to the latest Animoog update, the following is a general outline of how to solve the issue and what to expect in the coming week:

1) If you have already updated and the app isn't opening, DON'T delete it right away if you have custom presets you want to save. There is a free program called i-FunBox (for Mac and Windows) that you can use to offload your presets to a computer for safe-keeping first: http://forum.moogmusic.com/viewtopic.php?f=13&t=14118

2) If you don't have any custom presets or if you've saved them already, deleting the app and re-downloading (for free) from the App Store will get it running again. i-FunBox is the easiest way to load your presets back into Animoog, as well. You can also create a .zip file containing your presets folder, and use iTunes File Sharing and the "Import Presets" button on the Animoog setup page to restore saved presets. Drop the zipped presets folder into the Animoog File Sharing window in iTunes, then open Animoog and do Import Presets.

3) Animoog v1.1.1 has already been submitted and will fix all of these issues. Apple has just approved this update, so the new version should be coming online within 24 hrs. If you prefer, you can just wait for the next update and it should make everything right. No further action is required and no presets will be lost. I would anticipate the v1.1.1 update should be available via the App Store by this time next week; possibly sooner.

Further information:

*There was an outage with the server that hosts the In-App Purchases, but it should be back up within 24 hrs. Once it is back up, you should be able to access all purchases again.

*If you have purchased the MIDI Out expansion and are using the Alesis IO Dock, you may need to update the firmware on your device. Older IO Dock firmware can cause missed and stuck notes with the latest version of the Animoog. To update your device, go here:

http://www.alesis.com/iodock#

(downloads and updates tab)