BExAnalyzer.exe does not work anymore after upgrade to FEP 3

Dear all,

after installing FEP 3 I noticed the following behaviour:

If I try to run the new Bex Analzer from the Menue (Start -> Programs -> Business Explorer -> Analyzer) nothing happens at all. Neither Excel does start, nor the Analyzer plugin is loaded at all. A start from C:\Program Files\SAP\Buiness Explorer\BI\BExAnalyzer.exe) does as well not work.

But running the Excel macro directly from C:\Program Files\Common Files\SAP Shared\BW\BExAnalyzer.xla starts Excel and the plugin is working as expected.

So the question is: is it a bug or a feature?

Best regards,

Andreas