I would contact Corel about this seeing as no one else has spoken up. They can likely clear this up correctly.
You may try creating a new account on your PC, then reinstalling PSP on the new account. If that works that should allow you to work with PSP on your original account.
If that doesn't work you can download an uninstaller like RevoUninstaller and remove any trace of PSP from your system and try a fresh install of PSP from there.
http://www.majorgeeks.com/Revo_Uninstaller_d5706.html Using Revo is not supported by Corel, so they would not advise you to use it. But I've used it a lot and it cleans up after the regular uninstaller leaves stuff behind. Some programs are worse than others for leaving tidbits behind. I've only uninstalled one program that didn't leave anything behind for Revo to remove. Not that I uninstall a lot of things, but everything else has left something which makes me believe I'm justified in using a program like that.
Again, the first thing I would try is to contact Corel directly.
