Bill,
If you have not yet uninstalled/reinstalled (or if you have and the
problem persists), here's another thing you can try. Open a command
prompt (Start > Run > cmd) and navigate to your user directory (which I
think we established was C:\Documents and Settings\<you>\Application
Data\lyx16) (or lyx20 ... you can try both versions). From that
directory, run
C:\Program Files\<whichever LyX directory>\Python\python.exe C:\Program
Files\<same LyX directory>\Resources\configure.py
which will do a reconfiguration of that version of LyX. This helped
someone else with similar symptoms. His case was different -- he has a
roaming profile homed on a network drive -- but it might work for you as
well.
Paul