Wow. That got past the problem, and now it has started, and seems to be working normally :)
Please download and try this version: https://downloads.playitsoftware.com/Live/PlayItLiveSetup_2.07.2.2876.exe . Someone else reported a similar issue so hopefully this fixes the issue.
If it does not, please submit your data so I can reproduce the issue using this tool: https://downloads.playitsoftware.com/DiagnosticsTool/PlayItDiagnosticsTool.exe
PlayItLive 2.07.2.2846 is dying shortly after it gets to this point in the startup:
How do I recover from this?
It completely dies.
No GUI, no message, no nothing (from what I can see).
Is there a way that I can hit 'reset' on the audio device assignments and get past this issue?