I'm not sure i have seen this problem before. There is known issue that can occur where the configuration GUI does not detect that the ProcessTamer tray is running. But you seem to be saying that the ProcessTamer tray utility doesn't even launch.
If you launch it from the start menu, what happens? Nothing? No tray icon? Are you sure windows isn't hiding it under the "more icons" button in the system tray? If you hit ctrl+alt+del does ProcessTamerTray.exe show up in the process list?