So I have seen this approach work sometimes and sometimes not. I had a similar problem with the last version where if I tried to access the store part of iTunes (I was fine in the library), then it would crash. That uninstall method worked the first time, but the second time I had to copy a file from the Common Files area to the iTunes folder specifically. I believe it was QTMovieWin.dll. Then the last version allowed me to access the store.
Now after updating to 11.1.4, I get the same error (error 7, Windows error 127) which is followed with:
The procedure entry point ?videoTracks@QTMovie@@QBE?AV?$Vector@V?$RefPtr@VQTTrack
@@@***@@$0A@VCrashOnOverflow@2@@***@@XZ could not be located in the dynamic link library C:\Program Files (x86)\Common Files\Apple\Apple Application Support\WebKit.dll. The file is there but obviously I can't access WebKit.dll to see what is inside it.
I also found this older article (http://support.apple.com/kb/TS3074) regarding an Error 7 (though it's for Windows 7) which deals with the .NET Framework. I believe I updated it and I still get the same error on launch.
Any ideas on this one?