I've got the same problem here, did all that is mentionned above. The Read Only box is shaded each time. I uncheck it, apply, start the launcher, it crashes and Read Only is shaded again.
I tried to change the parameter, using cmd attrib -r C:\Program Files(x86)\Reverie World Studios. But it can't find program files (x86), even with quotes or if I type %programfiles(x86)%.
I tried in safe mode, same
Ma' axe ? In your face !