I am having this same problem, trying to get Process Tamer to work on my system. Reported it under "Black Ale"'s post. Will elaborate here, too.
I did run the CPUEater test. CPUEater gobbled my CPU but Process Tamer did not seem to care in the least.
Also, when I open Process Tamer from the tray to configure it, it says Not Running in the configure mode and shows no processes in the rules window.
In Windows Task Manager, under Applications, it shows Process Tamer Configuration GUI as "running." But Process Tamer Configuration GUI itself, after "Tamer Tray" says "Not Running" in red.
Don't know what else to add to describe this problem. Obviously a FEW other people have experienced it. Doesn't look like anyone other than Black Ale is certain what they have done that solved it. And I don't understand Black Ale's solution. Don't know what "Perfomance Monitor" he is referring to that he re-enabled and which then seems have allowed Process Tamer to do its thing.