Same launcher, different problem.
I can open the launcher just fine but it hangs near the end of the patch.
I restarted the launcher, straight away the patching progress moved to 81%, 76/93mb but no matter how long it downloaded (received amount kept growing) it would stay at approx 75/90mb patched.
I have seen a few snippets here and there of people with this problem, but no one ever mentions a solution.
After loading and unloading about everything I could think of, I deleted all STO files and erase my temporary internet files - so there was (almost) no evidence that STO had ever been on my computer. Then I went about the slow process of reloading the game and downloading the updated launcher. That's so I could get the launcher window...but it still wouldn't download the patch or patches to actually get the "engage" button to light up.
So, I switched over to the tribble server and then it started to load the patch. I had to have the tribble server updated before I could get the patch to download on the holodeck. After that, it started up - well, it's started up now for a couple of days - so we'll see what happens after the next patch.