I just had the same issue today - had been fine recently but installed my Mac updates and could no longer launch LW. So I had to get an older version off another site. While it's annoying that it's constantly flashing that there is an update available - until LW realizes that the Java update makes their new version fail. We're stuck. They specifically made the new version for our Macs (Leopard 10.5+, Intel) but obviously didn't account for other program updates.