Have installed this module following the PDF instructions. Enabling Euro 48 gives some very messed up zones - e.g:
EURO48: World Zone 5 Ireland (Republic of) consists of Greece, Italy, Portugal & Spain
EURO48: World Zone 8 Italy, Spain, Portugal & ; Greece consists of what is in ECONOMY WORLD ZONE 11: Far East & ; Australasia ( I checked by installing this afterwards)

Editing these zones to the correct contents and the Euro 48 still does not appear for any of the European countries. Choose France, get Store Pickup as the only delivery option. Uninstalling Euro 48 and reinstalling puts the zones back to the incorrect settings.

Will try on a completely fresh install and see what happens. I even ordered the SQL updates before I noticed this problem!