Only things I can see potentially conflicting are that AVG is still running as services, and GameGuard service is still running as well. Of the two I'd probably start with getting rid of GameGuard and seeing if that does it, then the same for AVG (uninstall it completely if you have to temporarily. If it turns out to be the problem you can always go with another AV client.)
You can also try stopping the services and setting them to disabled temporarily to make sure they're not running. To do that in Vista, go to Control Panel. Search for Services. It should give you a "View Local Services" link, click on that. Find the service you want to stop in the list, right click and choose Stop. Once it's stopped, right click and chose Properties, change startup type to Disabled. Click OK. To reverse this just note what the startup type was before you set it to disabled, then set it to that and click OK. You can then right click and chose Start, or just reboot to get everything running again.
And... as strange as this may sounds, that ATI External Event Utility might be bugging xTrap. I say this because I ran across a post where someone had to disable AMD PowerNow Technology Service to make xTrap happy. Makes no sense, but that's xTrap for you.
Past that, if it still does it, I'm out of ideas. Hopefully Shugi will have some.