I am having the same issue. The calendar will load in the page fine as long as there are no events. As soon as I add an event I get this error:
Fatal error: Call to undefined function has_post_thumbnail() in /home/content/37/5264337/html/wp-content/plugins/wordpress-events/includes/class-wordpress-events-setup.php on line 562
I am using wordpress version 3.3.1.