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Quicktime uses 100% CPU

Time:October 11
I'm tyring to install Quicktime 7 Pro on an iMac 10,1 running Lion. After a successful installation, I open up the program from Applications > Utilities. As soon as I open the Application my CPU is completely stolen by QuickTime Player 7. I'm still able to run other programs, but Quicktime is unusable and just hangs in the background. I've used the package in house I have, the download package from Apple, and I've even bought a new copy from the App Store, but nothing works. Is this an internal software issue or is this fixable some other way?
If Verify/Repair Disk Permissions wont work try resetting your Mac ACL.
Couldn't find an Apple Article for that so here's how its done:
Boot up into the Recovery HD (Hold CMD + R while booting)
Then select Mac OS X Utility's in the menu bar.
Then select Terminal and type this in the terminal: resetpassword
Then this shows up:
Now hit Reset in the bottom right corner and then reboot the Mac and see if this has worked.