A software reinstall simply isn't an option. What windows files does ipi access? Maybe I can help track down the issue.

I don't know if it fixes your problem

I myself made the experience to install Mocap Studio with WiFi running and LAN network adapter disabled.
Mocap Studio kind of binds the license/trial to the MAC address of your active network adapter.

So if you happen to switch your network adapter after first launch - like I did - Mocap Studio does launch, but stucks at "Initializing" and then closes.

I got exactly the same issue. So I go to my prgram and choose reinstall/repair then win7 reinstall previous version and that works.
what's the problem with last update?