HELP - My Livetype QUITS UNEXPECTEDLY upon startup of application.

Hi, My i7 Imac is an Intel processor, but since upgrading to Final Cut 7, the first time I try to launch LiveType I get an error window "Livetype has unexpectedly quit." I tried repairing disk permissions and restarting, but no luck. Can anyone tell me what to do? Thanks for your consideration:

Here's the crash log:

Process: LiveType [163]
Path: /Applications/LiveType.app/Contents/MacOS/LiveType
Identifier: com.apple.LiveType
Version: 2.0.2 (2.0.2)
Build Info: LiveType-1470000~29
Code Type: PPC (Translated)
Parent Process: launchd [98]

Date/Time: 2011-04-06 17:10:43.438 -0700
OS Version: Mac OS X 10.6.7 (10J869)
Report Version: 6

Interval Since Last Report: 1026 sec
Crashes Since Last Report: 3
Per-App Crashes Since Last Report: 3
Anonymous UUID: 0FB53EFF-4667-47DD-96E3-262C60B208CB

Exception Type: EXC_CRASH (SIGTRAP)
Exception Codes: 0x0000000000000000, 0x0000000000000000
Crashed Thread: 0 Dispatch queue: com.apple.main-thread

Thread 0 Crashed: Dispatch queue: com.apple.main-thread
0 libSystem.B.dylib 0x8023951e _pthreadkill + 10
1 libSystem.B.dylib 0x80238dcb pthread_kill + 95
2 com.apple.LiveType 0xb80bfb30 0xb8000000 + 785200
3 com.apple.LiveType 0xb80c0037 0xb8000000 + 786487
4 com.apple.LiveType 0xb80dd8e8 0xb8000000 + 907496
5 com.apple.LiveType 0xb8145397 spin lockwrapper + 1791
6 com.apple.LiveType 0xb801ceb7 0xb8000000 + 118455

Thread 1:
0 libSystem.B.dylib 0x8014309a mach msgtrap + 10
1 libSystem.B.dylib 0x80143807 mach_msg + 68
2 com.apple.LiveType 0xb819440f CallPPCFunctionAtAddressInt + 206231
3 libSystem.B.dylib 0x801707fd pthreadstart + 345
4 libSystem.B.dylib 0x80170682 thread_start + 34

Thread 0 crashed with X86 Thread State (32-bit):
eax: 0x00000000 ebx: 0x802fc540 ecx: 0xb7fff9ac edx: 0x8023951e
edi: 0xb8211640 esi: 0x00000005 ebp: 0xb7fff9d8 esp: 0xb7fff9ac
ss: 0x0000001f efl: 0x00000286 eip: 0x8023951e cs: 0x00000007
ds: 0x0000001f es: 0x0000001f fs: 0x00000000 gs: 0x00000037
cr2: 0x80239514

Binary Images:
0x80000000 - 0x8005dff7 com.apple.framework.IOKit 2.0 (???) <A769737F-E0D6-FB06-29B4-915CF4F43420> /System/Library/Frameworks/IOKit.framework/Versions/A/IOKit
0x8007d000 - 0x800e7fe7 libstdc++.6.dylib 7.9.0 (compatibility 7.0.0) <411D87F4-B7E1-44EB-F201-F8B4F9227213> /usr/lib/libstdc++.6.dylib
0x80142000 - 0x802e9ff7 libSystem.B.dylib 125.2.10 (compatibility 1.0.0) <ADF8138B-2384-2FC0-CCBF-C4721B53568A> /usr/lib/libSystem.B.dylib
0x8036b000 - 0x804e6fe7 com.apple.CoreFoundation 6.6.4 (550.42) <C78D5079-663E-9734-7AFA-6CE79A0539F1> /System/Library/Frameworks/CoreFoundation.framework/Versions/A/CoreFoundation
0x805de000 - 0x805ecfe7 libz.1.dylib 1.2.3 (compatibility 1.0.0) <33C1B260-ED05-945D-FC33-EF56EC791E2E> /usr/lib/libz.1.dylib
0x805f1000 - 0x805fdff7 libkxld.dylib ??? (???) <585F0A91-EFB8-E066-BDFB-4AFF37A8C323> /usr/lib/system/libkxld.dylib
0x80601000 - 0x80647ff7 libauto.dylib ??? (???) <29422A70-87CF-10E2-CE59-FEE1234CFAAE> /usr/lib/libauto.dylib
0x80654000 - 0x807d6fe7 libicucore.A.dylib 40.0.0 (compatibility 1.0.0) <D375C1CF-C88D-C5F6-3C49-CD429023FBAC> /usr/lib/libicucore.A.dylib
0x80838000 - 0x808e5fe7 libobjc.A.dylib 227.0.0 (compatibility 1.0.0) <C8925910-B927-968B-4B71-D83A4CEF8646> /usr/lib/libobjc.A.dylib
0x808f9000 - 0x808fcfe7 libmathCommon.A.dylib 315.0.0 (compatibility 1.0.0) <1622A54F-1A98-2CBE-B6A4-2122981A500E> /usr/lib/system/libmathCommon.A.dylib
0x8fe00000 - 0x8fe4162b dyld 132.1 (???) <1C06ECD9-A2D7-BB10-AF50-0F2B598A7DEC> /usr/lib/dyld
0xb8000000 - 0xb81defff com.apple.LiveType 2.0.2 (2.0.2) <DABBE722-D298-F9AF-C7AD-F7FDEC946F28> /Applications/LiveType.app/Contents/MacOS/LiveType
0xffff0000 - 0xffff1fff libSystem.B.dylib ??? (???) <ADF8138B-2384-2FC0-CCBF-C4721B53568A> /usr/lib/libSystem.B.dylib

Translated Code Information:
objc[163]: garbage collection is ON
NO CRASH REPORT
Model: iMac11,3, BootROM IM112.0057.B00, 4 processors, Intel Core i7, 2.93 GHz, 4 GB, SMC 1.59f2
Graphics: ATI Radeon HD 5750, ATI Radeon HD 5750, PCIe, 1024 MB
Memory Module: global_name
AirPort: spairport wireless_card_type_airportextreme (0x168C, 0x8F), Atheros 9280: 2.1.14.5
Bluetooth: Version 2.4.0f1, 2 service, 19 devices, 1 incoming serial ports
Network Service: Built-in Ethernet, Ethernet, en0
Serial ATA Device: WDC WD1001FALS-40Y6A0, 931.51 GB
Serial ATA Device: HL-DT-STDVDRW GA32N
USB Device: Hub, 0x0424 (SMSC), 0x2514, 0xfd100000
USB Device: EPSON Artisan 830 Series, 0x04b8 (Seiko Epson Corp.), 0x0860, 0xfd130000
USB Device: Built-in iSight, 0x05ac (Apple Inc.), 0x8502, 0xfd110000
USB Device: IR Receiver, 0x05ac (Apple Inc.), 0x8242, 0xfd120000
USB Device: Hub, 0x0424 (SMSC), 0x2514, 0xfa100000
USB Device: Keyboard Hub, 0x05ac (Apple Inc.), 0x1006, 0xfa140000
USB Device: Apple Keyboard, 0x05ac (Apple Inc.), 0x0220, 0xfa142000
USB Device: Internal Memory Card Reader, 0x05ac (Apple Inc.), 0x8403, 0xfa120000
USB Device: BRCM2046 Hub, 0x0a5c (Broadcom Corp.), 0x4500, 0xfa110000
USB Device: Bluetooth USB Host Controller, 0x05ac (Apple Inc.), 0x8215, 0xfa111000