I'm having the same issue too. I only installed the anniversary update yesterday, and since, Sonic studio stopped working. i still have the icon in the windows tray though.
After installing the anniversary update, my audio had horrific reverb applied to it, and i couldn't open SS to turn it off!
However, after seeing the suggestions above about a Logitech webcam being the culprit i tried some things of my own.
I have a Logitech USB Headset always connected, i just switch the output device when i want to use it, and a Blue Snowball mic.
After unplugging both of these, closing SS in the tray and re-opening, Voila! Sonic studio opened and worked fine.
Seems like this might be caused by having an input device connected maybe ??
it's also weird that the windows update applied the reverb effect in sonic studio to max.