LIVEUP indicates some live updater. For some reason it is trying to run in 16 bit on your 32 bit system.
Can you find this LIVEUP on your computer and ID the software?
C:\PROGRA~1\LIVEUP~1\LIVEUP~1.EXE
You might be best off going through the HijackThis route just to verify this is not malware:
HijackThis
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Please read
THIS and after completing the steps outlined post a
HijackThis log over in that section along with a brief description of your problem.
Do not post HijackThis logs in this section please.
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The security / spyware section of D-A-L works a little differently to the rest of the site. We currently only allow Head Security staff to reply to others threads to ensure a high level of support and quality is maintained with the daily issues which require a certain level of knowledge in this area.