Bump
This happened to me today upon finally updating to Boot Camp 3.2 from 3.1. I'm using Windows 7, and the basic issue is that the Bootcamp.exe keyboard manager will not run, and the icon is not displayed in the system tray. Launching it manually doesn't work, and it won't run in any of the compatibility modes either. Help?!
Edit: I'm using 32-bit Windows 7 Ultimate