Hi Carver42,
I am not sure whether the problem is caused by the licensing assembly. But from your description, "If I start the program from the windows explorer by drilling down to the c:\Program Files\.... the program runs fine", I find there is some information missing when you start your application from Start Menu.
Please right click the shortcut to see if the "Start in" parameter is correct. If there is not text in "Start in" field, your application may meet problem. That's why when you start your application by clicking the exe instead of shortcut with no problem.
Hope this canalso help you.
Sincerely,
Kira Qian
Please mark the replies as answers if they help and unmark if they don't.