Not seeing good old MenuStrip v3.0.5 on the compatibility list, I pulled it out and tested it. If you have kept the old .plist file, ~/Library/Preferences/com.macpoweruser.MenuStrip.plist, Trash it first. You may also want to clean install the application. Boot MenuStrip and it just works.
However, there are a couple other minor problems with which to contend:
First, the 'Contacts' plugin v1.0.1 will NOT work and will bomb MenuStrip. Don't install it. It comes with MenuStrip PluginsPack v1.0.1.
Second, you will want to change the MenuStrip Preferences setting for activating the Search feature. It is mapped to F8 by default, which will interfere with Spaces, or whatever setting you usually use for F8. Because I have all my Function Keys mapped out, I simply turned it off.
Note that MenuStrip has not been updated in many years. It doesn't claim to work beyond Tiger, but it remains quite functional in 10.6.2. Also note that if you are using a pirated serial number, MenuStrip will self-bomb after it phones home. It may appear that it is 'not' working, but the self-bomb is deliberate.