I can confirm that the 'no printer' option doesn't work for us either.
The funny thing is that if you play with the window size (in the bottom right corner) sometimes the report looks fine. Unfortunately this isn't a viable workaround.
At the moment we are recreating key reports into Cognos active reports which is time consuming but at least work on any OS.
It would be great if SAP issued a new version for MAC (as an aside, having the executable bundled with the PC version is weird).
Thanks