A new update for Animoog is on iTunes, but you don't want it! There is a serious bug in the 1.1.0 update that will cause it to crash! Over and over again; splash screen then a crash. It may be related to In-App Purchases, so if you don't have any you may be safe.
If you have already updated you can delete Animoog and re-install it. However, you will not be able to restore purchases or make new ones. Thanks to Angel, and Steve for helping me test this fix, over Twitter!
Update: ChrisG and Alex report that the iPhone version is not effected. From ChrisG's comments here I think we can rule out In-App Purchases being the cause of the iPad problems. It seems to be effecting people who haven't made any!
Update 2: Restore purchases and new purchases are working again. There is no official word yet from Moog. If you have a lot of presets that haven't been backed up, you might want to wait until Moog releases a new update, instead of reinstalling.