Fences installs and crashes explorer immediately

I'm running Win7-64 on an SSD and as soon as I install Fences (just upgraded to 2.02) I get the 'Explorer has stopped responding' error and I can't do anything with Fences.

The Win install is less than a month old and the only things running in memory are AVG, Malwarebytes and Steam.  

 

Anyone have an idea?  

Thanks.