PYRO 5 and Windows 7

Hello,
 
I have Windows 7 with 64 bit installed on my machine.  I installed PYRO 5 fine with no warnings or issues.  After the requested restart, I double clicked on the shortcut on my desktop to start the program.  After doing so, nothing happened.  I tried it again and I get a Window saying that "Cakewalk Pyro is already running", but it does not show up at all. 
 
I looked at the support page for Pyro 5 to see if there was an update for Vista, thinking that it may give me a better chance at working with Windows 7, but nothing was available.  I have tried using it in compatiblity mode with Windows 2000, Xp SP 2 and SP3.  But I get the same result.  An option with Windows 7 would have been to use Windows XP mode, but I cant as my machine's processor does not support VT.
 
Is it suppose to work with Windows Vista/7 64 Bit?  If not, what is the best alternative to use that can provide the same features of Pyro 5 and yet be compatible with Windows 7?