VMware have announced an issue with this weeks MS Patching and  VMWare View 4.5 client on Windows 7 - we have confirmed this in our production environment:

Symptoms

• Unable to connect from the View Client on Windows 7  to the View Connection Server
• Connecting the View Client on Windows 7 to the View Connection Server fails
• You have installed one or both these Microsoft patches 2482017 or 2467023

Resolution:

Update to the latest version (4.6 at time of writing) of the VMware View client.

Full details here http://kb.vmware.com/selfservice/microsites/search.do?language=en_US&cmd=displayKC&externalId=1034262