Hello.
After updating to PP 4.3 today, I'm now getting a timeout error with the Hotmail account.
PP 4.2 was working normally, before updating to version 4.3.
At the same time, my outlook.com email account (within PP) is error free.
Accessed via web browser still works OK for both accounts.
I suspect that it's just coincidence, because Hotmail's IMAP server is not very reliable and timeout issues are actually fairly common. v4.3 makes adjustments to reduce the number of errors by accounting for other limitations in Hotmail's IDLE configuration -- edit the account and make sure that "IDLE" is enabled to take advantage of this -- but this still requires that POP Peeper is able to login initially, and it's the login server that seems to have the most problems.
I would suspect that the problem you were having was temporary, but if you're still having a problem, try exiting and restarting POP Peeper.