Check what security programs you have on your computer. There are some brands that will prevent LW opening. You would need to put LW on their exception list.

I guess you could also try changing LW's compatibility mode for Windows 7, there's lots of different ones to try, one might work.

igottabomb, try Reinstallation Technique.

Also, update to the most recent iTunes, the first iTunes v.10.0 was buggy.