Protected content message not working in membership plugin

Hello there -

I'm using the Membership plugin and not getting the protected content message to work properly.

When a non-admin registered user is logged in and tries to access content to which they're not entitled, instead of directing them to the designated protected content URL I've assigned, it 404s. The same thing happens with visitors to the site (in other words, someone not logged in) who try to access protected content by typing in a URL.

I'm using RC2, have designated a protected content page in Membership Options, and have a stranger membership level designated.

Can you help me figure out what I'm doing wrong? Thanks!