Try reducing the number of octaves in the Wilbur Ridged Multifractal parameters (the Parms button next to the function name). It's not well behaved above about 13 octaves; Id' say that you have about 15 octaves in your picture. The "RMF with Perlin's Improved Noise" is a function with the same general character of noise (different absolute shapes, but the same statistics - "RMF" = "Ridged Multifractal") but that will handle many more octaves of noise. Other numeric precision problems creep into the displays long before the noise starts to break down with the improved noise variant.

The smooth things are very strange. If you're using the prescale offset editing as recommended in the tutorial I suggested then you shouldn't be getting anything like that. It looks a lot like you're painting a large amount of smoothing onto the area.

As far as erosion things go, the incise flow tool in FT does something like that, but only at your editing resolution.

The version issue is a persistent one for me. I'm usually a few versions ahead of the version that's available at the ProFantasy web site.