I have had the same problems with the launcher, and I get this error in the console upon launching.
Oct 20 22:05:39 Mac.local java[3270] <Error>: CGContextGetCTM: invalid context 0x0
Oct 20 22:05:39 Mac.local java[3270] <Error>: CGContextSetBaseCTM: invalid context 0x0
Oct 20 22:05:39 Mac.local java[3270] <Error>: CGContextGetCTM: invalid context 0x0
Oct 20 22:05:39 Mac.local java[3270] <Error>: CGContextSetBaseCTM: invalid context 0x0
It might be worth noting that I had previous problems with opening the launcher due to the Mac version of Java, so I launch with a separate file (I got the code from these forums). If I need to post the text from the launch file I can.