If you have installed Mac OSX Java Update 4 and clicking the Launch button opens a text file in a text editor instead of the application, please open a Terminal under Applications -> Utilities -> Terminal and type or copy/paste the following command on one line:
/System/Library/Frameworks/CoreServices.framework/Versions/A/Frameworks/LaunchServices.framework/Versions/A/Support/lsregister -kill -r -domain local -domain system -domain user
Afterwards, please try to re-launch the activity.