Here is how to fix this 'Launch RichVideo' message on Windows 7 64 bit:
1. From 'Control Panel' uninstall 'CyberLink Power Director 10' (you do not need to
uninstall 'content packs')
2. Open 'services' and disable the two 'CybelLink RichVideo' services (one reads
'RichVideo' and the other service reads 'RichVideo64')
3. After disabling those two services, stop them.
4. Open folder "C:\Program Files\CyberLink\Shared files" and remove all RichVideo files
(you should see in there various exe files, and a dll file)
5. Re-install PowerDirector 10
6. [Optional] Install the latest patch (1424c)
PD10 should now stop giving you this 'Launch RichVideo' message when you launch PD10.
Note that you may need to re-enter your product key after these steps.