When I installed VP3 on Win7 it didn't want to launch. Thought that was DirectX problem, but was a problem with Comodo Internet Security.
Follow these steps:
Go to "Defense+" tab -> "Defence+ Settings" -> "Execution Control Settings" -> "Exclusions" -> "Add" -> "Browse" -> Find a folder with VP3 installed. Press "->" on it. Press OK.
That's all. Comodo didn't let VP3 to launch because of buffer overflow protection.
If you did all correct it must look like this:
