I launch all my monitoring applications using that method and never encountered any errors. I also envoke a password protected screensaver to lockout access. Works like a charm!
Atlas V Launch Operations
This may be a stupid question, but did you install the software 'Everyone that uses this computer' or 'Just for me'?
If you selected the 'Just for me' option, then the other users will not be able to see the directory in which you installed the software.