Curse you, guy who deleted his post as I was replying to it
Anyways, there is a fix out (as previously mentioned) that I believe can be downloaded here.
The instructions given is
all you need to do is to unzip the file, copy the new exe to the location where warband is installed and run the game by double clicking on this new exe.
Edit: The fix would be for the archers/crossbowmen facing the wrong direction.