Usertools ini file is for the customization of Viewdraw menu items , just check your WDIR Path and open the usertools.ini file and take detailed check.
I checked the WDIR and it is setup correctly, I opened the ini file with text editor and it looks OK.
I believe that it is a windows 7 file permission issue, as I did not have any problem with the same projects directory on XP.
Anyone have an advise how to force the win7 permission policy to behave like the XP?
Do you need usertools.ini? Does DxDesigner start if you temporarily remove usertools.ini?
Is the problem still there after running DxDesigner/Viewdraw in Administrative mode?
I would contact support with your version and the above information.