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There is a free update to UFT 2.8 at http://www.uftree.com/UFT/Nav/ufttech.htmlhttp://www.uftree.com/UFT/Nav/ufttech.html
I would suggets that you download the upgrade and install it before you do anything else.
You may be having a problem with too amny fonts on your computer. Normally UFT does not like the system to have more than around 250 fonts.