That could be caused by any number of things. Perhaps you are running a Continuum version that's older and isn't compatible with the Minecraft version you are throwing at it. If you have other shaders functioning fine and Continuum is the only one that fails, then we can conclude that you are likely using an outdated version of Continuum.
Don't know if you were asking Sonic Ether or myself, but I remember when Robobo and I were messing around with the SEUS RC2. It didn't work originally in newer versions of Minecraft. It was bugged in the beginning, like the SEUS RC5 because it was old. I'm barely a dev, if at all, so I wouldn't even begin to know the intricacies that are required to update and old shader to new versions of the game.