It seems that the Time and Chaos 7 is missing a .dll and will not launch. The dll is called gdiplus.dll and can be found here (or by searching Google):
http://www.dll-files.com/dllindex/dll-files.shtml?gdiplus
If you put the dll in your drive_c/windows/system32 directory, Time and Chaos 7 will launch and work bronze, but it's still pretty buggy at this point.
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