If you can only get PicoLog player to start, I imagine that you already have a instance of PicoLog Recorder running in the background.
First, do you have a PL icon in the lower right corner next to your clock? If so, simply double click on it to bring up PicoLog Recorder. Refer to the attached image for what the icon looks like.
2nd, if you don't see this icon you can force the recorder closed. Bring up your Task Manager and close the instance of PLW32.exe. Then you can try rerunning the software and it should bring up PicoLog Recorder this time.
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