Pro Tools 12. upgrade did something to Media Composer

I installed the PT 12 update.  I open Media Composer 6.5.4.  It opens ok.  I try to open a project . .. or start a new one . . . and I get the message "Runtime error!  Program c:\p  (can't read anything after this)   This application has requested the Runtime to terminate it in an unexpected way.  Please contact the applications support team."  

I gleaned it might be something to do with the Microsoft C++ Redistributables.  I updated all the Microsoft recommended stuff.  

You folks are my 'application support team'.  Any ideas?

Thanks -