No Launchpad after Update

After the recent (4/29) update, my Launchpad is empty - curious if anyone else has the same experience. Launchpad attempts to load, then quits after 1/2 second.

Not terribly excited about LP - basically I have 'applications' and 'office applications' folders in my dock which pop out icons (without disrupting my screen) I would rather 'scroll down' my apps than scroll across in iOS fashion. Launchpad really isn't very useful on a two-screen desktop either. Might be useful on a MBP - but I don't have a spare partition on mine to give Lion a try.

Edit: Textedit.app crashes too - textwrangler is fine.