hi patrick ....
i have tested launching this from terminal ... panel applet and menu and all 3 launch with no issues ... something else is at fault here ... did you install from the Repo or from the website?
Kori 
Hello, Kori,
I do have a Realplayer.bin file but haven't used it yet. Realplayer was installed from the PCL repo (twice). It works fine but only launches from the menu when the workspace is 100% clear. A panel launcher icon for RealPlayer works all the time, regardless of what is on the workspace, similar to your results launching it from a terminal, etc.. Questions, questions, questions...ask me some more questions then.
What else can I tell you, otherwise every other program is launching and running fine regardless of other programs in the workspace.
I'm turning off some windows options later in settings manager and limiting other options and tweaks to basic minimize and maximize.
Maybe move the panel to the bottom or the side and see what happens. Realplayer also has a full clip buffer instead of a 30
or 60 second buffer, perhaps with the workspace partially full it can't find a good spot for the buffer and refuses to open then. Guessing on that one.
It just will not wrestle thru a partially full workspace.
thanks for your time and response,
Patrick013