From our guild website - Banani
Okay... that worked. -- the path you need to go to is Program Files > Sony > Station > Launchpad > Launchpad.exe -- Delete this file. Your EQ directory might be different...If you can't find that file, just do a search for launchpad.exe . After you delete it, run Everquest.exe and it'll ask if you want to convert to the new launchpad system. Click yes, it'll re-download the launchpad and everything should be kosher.
Apparently another 'solution'
just downloaded the directx updates thingy from microsoft and so far so good