I somehow broke my launch key setting by resetting it to an invalid combination. Alt-Space is the default, and I had set it to something that simply didn’t bring up the Launchy window. This is a problem with Launchy because there is no ‘official’ way to reset the hotkey without first bringing up the launchy window.

In short, if you ever have this problem, instead of attempting a reinstall, which doesn’t work just do this:

How To Fix Launchy’s Hot Key:

1. Kill Launchy.exe from the task manager.
2. Open launchy.ini in your users application data folder.
   For windows XP users, this is:
   C:\Documents and Settings\yourusernamehere\Application Data\Launchy\Launchy.ini
3. Add or replace these ini style keys:

   [GenOps]
   hotkeyAction=32
   hotkeyModifier=134217728

4. Save the file, and restart Launchy.exe
5. Use Alt-Space (which is what you just reset the hotkey combo to be)

Here is a breakdown of the url I used

http://chart.apis.google.com/chart

Chart Size
chs=375×175

Chart Title
chtt=Superdelegate+Endorsements

Chart Type
cht=p

Chart Data
chd=t:288,260,244

Chart Labels
chl=Uncommitted+(288)|Clinton+(260)|Obama+(244)

Color
chco=929AAF

Full url:
http://chart.apis.google.com/chart?chs=375×175&chtt=Superdelegate+Endorsements&cht=p&chd=t:288,260,244&chl=Uncommitted+(288)|Clinton+(260)|Obama+(244)&chco=929AAF

API:
http://code.google.com/apis/chart/

they have a simple iso list,

http://www.maxmind.com/app/iso3166

and a database of world cities

http://www.maxmind.com/app/worldcities

free.