Running 1.5.0 on Win7 x64. I have both Max for 32 bit and 64 bit installed. Other sequencers run fine (M185,Klee), just Cyclic.
Can see it pop into process list and then just disappears. Event log shows crash but no information from what I can see.
I doubt 1.5.1 would make a difference, but I did miss downloading the PC version when it was released.