I am running CW10.5 on Win7/64 machine too, with 08, DSC, Kinetis.
I had a lot of problems while upgrading from 10.4. and I spent several days in investigating it.
The application got stuck while building projects, and I had to force closing it.
2 conclusions from the hard time I spent:
1) Many developers (like me) don't put applications & developed data on the system disk (C:).
I know that Microsoft recommend to put everything on C, especially in Win7, but I don't like it...
When I defined in the 10.5 my workspace (on E:) I found out that in CW system file there was still C:...
It caused problems. I changed it manually. I did not have such problem while upgrading to 10.4.
2) I had to remove projects from the workspace and to import them again. otherwise, it didn't work good.
Now it works better, I still have to spend more development hours in order to make sure that it works good with all the whips I work with.