If you are looking for an easier way to run the software of the oalib Acoustics Toolbox and want to stick with Matlab, then I would recommend Alec Duncan's AcTUP http://cmst.curtin.edu.au/products/underwater/.
This software is a graphical frontend for the 2006 version of the Acoustics Toolbox, plus some additional PE propagation models (RAM, RAMGEO, RAMSGEO). I agree with WMXZ that the theory, mathematics, and implementation of the models in the toolbox has probably not changed too much over the years, so the dated version of the toolbox may not be as big an issue as it might initially seem.
AcTUP also has a has a user's guide and an associated peer-reviewed conference paper that provide more information on the functionality.
And if a graphical frontend isn't what you're after, I've found the underlying Matlab code and classes in AcTUP to be easier to use for Matlab scripting than the stock Matlab code from oalib --especially for models like RAM, which I believe hasn't always received the same level of support and testing in oalib as other models.
