Cobalt offline editor not working in Windows 7

I have installed Cobalt 7.1.0  to a (new) Windows 7 computer.  

It will simply not start up.  There is no response beyond a brief showing of the hourglass beside the cursor.  I have the same problem with the Congo (6.2.1) software (which worked on an older machine running Vista).

I believe that all the relevant drivers are up to date.

Changing compatibility settings has had no result.

Is the offline editor supposed to work on Windows 7?

Please advise.

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