ok, checked the event log and found the following error message:
EventType clr20r3, P1 ipistudio.exe, P2 1.2.0.117, P3 4db6ccdc, P4 windowsbase, P5 3.0.0.0, P6 4bb2dcbb, P7 a7a, P8 18, P9 system.invalidoperationexception, P10 NIL.
looked this up on microsoft support and found that this can occur with .NET 2.0 based applications on computers where you have both .NET 3.5 and security update MS-07040 installed. heres a link to the article:
http://support.microsoft.com/kb/948233It says there is a hotfix for this issue, unfortunatly its not available for download yet. I guess maybe i just uninstall security update MS-07040 for now?