Have the same issue right now and can't log in.
password is correct have verified through account management
account expires 15 june so not that
I enter password, 'OK' box greys out on clicking or hitting enter then nothing, same happens if i enter a random incorrect password
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Perpetuum client - build May 12 2011 12:28:41 - starting at 2011-05-27 20:07:21
[20:07:23] Loading layouts...
[20:07:23] Connecting...
[20:07:23] Connection successful...
[20:07:28] Update successful...
[20:07:28] Loading layouts...
[20:07:28] Initializing sound engine...
[20:07:28] Loading dictionary...
[20:07:29] Init done...
[20:07:29] Init successful...
[20:07:29] Connection valid...
[20:14:46] Disconnecting (reconnect: false)...