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If you right-click a file and choose "TextPad" from the context menu, TextPad will open but the file you selected will not.

The reason for this, in my case, was because the "Tip of the Day" (Show tips on startup) was checked. Turning off "Show tips on startup" fixed the problem. (This was in version 4.7.2)

Thanks for pointing out the problem, and we are looking into it. The blocking of DDE messages is the likely culprit.