Why might an application fail to start on Windows 7 x64 with faulting module GDI32.dll?

Why might an application fail to start on Windows 7 x64 with faulting module GDI32.dll? I'm attempting to run NSIS.exe on Windows 7 x64, but it's crashing on start, and leaving this in the event log:
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Guest [Entry]

I've learned a simple rule with Microsoft products: if they do not work as expected, restart them or reboot the computer, and if they still don't work, DON'T PANIC and look online for a solution.