The following solution is provided by CarterW on the Logitech forums, though he linked to the wrong file:
Download the executable at http://logitech-sjca.navisite.net/logitech/controldevices/setpoint/devices/2/100007a.exe then restart the software. This can be done by right clicking the SetPoint icon () in the notification area (as shown below.
Then select "exit."
After that relaunch the program from the start menu.
Restart the PC to confirm the fix.
This is what you get after the fix: