http://www.anthemro.com/forums/index.php/topic,60034.0.htmlHaving the same problem. It seems to be related to vshield somehow, I think.
Weird, because I started up RO on my laptop, and it was working fine, and then I quit client, tried to start up again, and it started doing this.
Problem seems to be related to the anthem.exe / anthemexe.exe files. The application simply hangs. If I run my old anthem.exe files it'll at least get me to the login screen and I can disconnect characters that are logged in from another computer (as normal).
I tried extracting those 2 files from the setup, but it still doesn't work. I guess I'll have to try and do full download of client next.