It took me a while to find out, so here is what to do (it was in the release notes all along) - even if you have all admin rights on your machine:
Windows Vista: to run the Register SDL Trados 2007 Freelance batch files available from the SDL Trados 2007 Freelance Start menu, you must right-click the batch file and select "Run as administrator". This will ask for permission to run the script with elevated permissions. This is by design on Windows Vista as part of the new UAC (User Account Control) feature.
* In MSWord2007, error message "trados translator's workbench is not running" on trying to open a segment
* Trados synergy gave error on opening (something about having to install or register the sw first)
* Registration with RegAsm.exe failed giving error messages when the registration bat file was run
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