Okay, this is pointing more and more to a problem with the app itself, and I think your noticing the .NET update may be a good clue. (Yes, it's a .NET app.) Perhaps try rolling that back or reinstalling.
Some other users have had goofy issues with FTM following .NET updates. I'm not sure they've ever fallen into the category of explained though. Hopefully this won't be the case here.
Some other users have had goofy issues with FTM following .NET updates. I'm not sure they've ever fallen into the category of explained though. Hopefully this won't be the case here.