Had this on two machines. I’ve uninstalled everything including GW and done a registry clean. I *think* the system is stable but will let you know in a few more days.
Critical factors may have been: either
(1) not having .NET framework on the machine at install time – I loaded it later when I got the component initialisation error message but this did not cure the multiple menu problem. Perhaps the install failed without .net and left the system unstable even when .net added later?
(2) starting with GW5.5, upgrading to GW7.01, installing formative.
(3) conflict with another c3po (exportspam)