Alright...using a wrapper executable doesn't help. What does help is running the Thinapp on 32bit Windows 7. So my theory is as follows:
Starting mmc.exe (in whatever variety) on a Windows 7 64bit installation triggers a check whether or not to start the 32bit version or the 64 bit version. And it pretty much keeps doing that over and over again every time mmc starts.
I've tried C:\Windows\SysWOW64\mmc.exe directly in the commandline which doesn't help.
Oh, and the problem persists in Thinapp 4.7.3.
The key question is whether or not to chalk this up to Windows 7 and its stupidities or to Thinapp and its weirdness.
The biggest problem is not who to blame but how to get out of this misery. This is not the only application with MSC's I have to package, just the first.
Anyone have any insights on what to do?