had the same problem (BitTorrent T-0.2.0(BitTornado):
Problem connecting to tracker -<urlopen error (10060, 'Operation timed out')>

already tried changing the settings at the advanced preferences.
what could be wrong with my setup?

i have one question though,
are the "LocalIP" and "IP to bind to" need to be set?
if so, need to be set with what value?

thanks.