I started the game once by clicking the shortcut that was created(the one with the yellow \"PS\" ) and got that.  It turned out that that was \"safe mode\" and is insufferably slow.  
I had much more acceptable results by going to program files/planeshift/psclient.exe  Rightclick it, click on send to, and send to desktop(shortcut).  Then you will have a generic icon on the desktop to use.
But first click on updater.exe, and after that click on pssetup.exe to set some video options.
Post back with us and let us know if that helps.