Instead of using the profile editor, I believe that you can just use the driver. Unfortunately, I don't the exact process right in front of me, but if you select the joystick image on the bottom right hand side of the task bar, a menu pops up allowing you to choose the profile editor, settings, and profile you wish to choose.
I believe it's "Settings", but one of the menu options makes a window pop up with different settings. Anyways, its here that you should be able to set the dead zones to your joystick with a white bar. I suggest making a 25-35% deadzone for you throttle in the center.
I'm sorry if this is confusing, because it's hard to explain things if you don't have images to give as examples or for your own refernce, but if you don't get the problem solved fairly soon, I can get a more detailed response in.
Good luck.
*EDIT* Are you talking about the Cyborg Evo? Cuz that's the one that I talked about, though the interface is nearly identical for most of their joystick AFAIK.
@ Priby, I can't be sure, but I seem to be able to hover in one spot without any movement at around 12-14% in the Merlin. I'm sure that it all depends on whether you're moving at all or what chopper your in, but if you throttle is at 0%, you should be able to hover fairly well, only descending ~1 meter every 5 to 10 seconds.
*EDIT 2* Ok, here's a pic of the window I'm talking about (might not look the exact same, especially with the Cyrillic

).
When it pops up, it should be in the "test" tab. The "about" tab is where you set deadzones.