Ultra Recall 1.4b has been updated with a fix for following reported Treepad import problems:
->not consistently importing plain text (when contains leading blank line(s)
->all imported plain text is bold
Please
download and re-install the Ultra Recall v. 1.4b installation file to obtain this fix.
Note: I believe the indenting issue is something inherent with the KeyNote export file, but we can take a look at this as well if you provide a sample.