Although it's probably something you'd want to ask AVS support, you
might find some broken codecs using Sherlock off Marc Liron's site :

http://www.updatexp.com/sherlock-codec-detective.html

I'm not familiar with the commercial version of AVS, so it's not
obvious which step is the initialize step - is that when you try to
convert a video, or it simply won't load the program up at all ?

HTH
Cheers - Neil
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Digital Media MVP : 2004-2007
http://mvp.support.microsoft.com/mvpfaqs