I found the solution. Apparently this is a known issue. Quicktime does not run properly on any Windows 64 bit OS. Apparently this has been an issue for over a year now. There is a work around that can be used. If you go to the properties of the application (or a shortcut) and go to compatability mode and set it to Windows XP SP2, it should solve the issue. However it would be nice if Apple would fix this issue.
http://discussions.apple.com/thread.jspa?messageID=5627669�