You have to change the Haptic Duration which is the selection right under where you check Haptic Feedback to enable it in the Advanced settings. The default setting for it is 10ms, which seemingly is too short of a duration for the phone to set or make. So set mine to 40ms and it feels like that's the sweet spot for the vibration and duration compared to any other keyboards default setting.I got audio to work when I unplugged my headphones but still have yet to get haptic to work however it is just a beta and I've been able to get by without the feedback it just feels weird.
*EDIT* I got haptic working finally
Sent from my ICS'd HTC Rezound.