For any other Chrome Canary users out there, if they are finding that they cannot launch Canary there appears to be an issue in the current release, 12.0.726.0. The problem appears to be with extensions so appending "--disable-extensions" to your Canary shortcut will allow the program to launch.
Refs:
- http://groups.google.com/a/chromium....33d74?lnk=raot
- http://code.google.com/p/chromium/is...etail?id=78472
- http://www.google.com/support/forum/...4284747c&hl=en
XI Wiki

