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Quicktime uses 100% CPU

Time:October 11
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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?
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