I had the same issue, but a reinstall of STO did not solve it. I found the following...
100120 03:37:41 1 MasterControlProgram: OLE failed to initialize: 1
100120 03:37:41 2 MasterControlProgram: Shutting down from fatal error "OLE failed to initialize: 1"
I tracked it down to the parental control software Net Nanny by Content Watch. Everything started working after I uninstalled the software. The launcher would still not run when the Net Nanny was only disabled. I even put the launcher in as an application exception to the parental contol, but still the launcher crashed each time. This is a problem since I need the parental controls for my kids.