Problem with the new launcher!!!

I have the launcher for 1.6.2 (says version 1.1.2 on it) and I can't play new profiles, and I can't pick what version a new profile is. I click the new profile button and if I try and change the version it comes up with nothing. And if I leave it blank it picks "(Latest Version)" but won't let me press play. I can only use the default account I had ages ago.