We had this problem too,Win7x64 SP1,after a TOTAL UNINSTALL of PDVD11,reboot, and installing PDVD11 again untill the March 2012-patch ( NOT THE 3318-PATCH !!), these problems are over!! There are no problems anymore with this program, it plays everything and smooth!!
So we will suggest to install PDVD11 with the March-patch,for it did help us indeed!!
Do NOT GIVE UP!! CyberLink updates PDVD12 next month for solving these frustrating problem!!