Corrupted Waveshell. The Waveshell could have been corrupted if you tried launching Pro Tools with no waves dongle (HASP) connected. 1) Remove the Waveshell from the plug-in folder (program files -> digidesign -> DAE -> plug-ins -> DAEshell, both entries).2) Deinstall the waves plug-ins via Control Panel -> add/remove software....3) Reinstall the waves bundle and restart your CPU. The dongle will be reauthorized by the setup program. Make sure all your plug-in settings in the waves folder are backed-up.