You're not alone. The hide function isn't working for me as well.

OS: Windows 7 x 64

I've tried disabling aero and it doesnt work either.

yup,same thing here...win7 x64, disabled aero and compatibility stuff

same problem, win 7 x64.
latest version bluestacks, and rooted.
disable aero. still not work.

I will look into this problem as it occurs to only windows 7 people for now. Can you try changing the compatibility mode to XP?

just tested running in windows xp compatability, still not working.