It looks like the only way to fix this problem is to restore a previously backed up save. Go to the ...Tower of Guns\Binaries\Win32 path and back up the GameState.Bin, LocalGameState.Bin, and OptionsState.Bin files before
updating to v1.27!
We've uploaded a fixed setup_tower_of_guns_220.127.116.11.exe that should no longer do this. Sorry about that!