same thing as the previous posters . . I'm also running OS X Yosemite. all of the folders (all possible folders) seem to be greyed out such that I can't select any folder and it seems that I can't do anything else with PrivacyGaurd until I have selected a folder.
I think perhaps the problem might be that I did not select a folder the very first time it was offered (it might have been possible at that point) - but I did not because I wanted to add a special folder for the purpose (I think it would be nice if you had a create new folder option available on that screen)>
As a favor in addition to fixing the problem, please suggest a name and location for the folder that will likely work well.