Just launched Armory, said there was a new version... so downloaded an installed 0.88.1, launched it and... nothing.
It'll start, run for a few seconds, then quits. No window, splash, pop-ups, nothing.
You are running it on Mac OS X? Or Windows? You mention you had it running before, so it's Windows?
If it's Mac OS X:
Try launching it direct from an xterm:
imac: $ cd /Applications/Armory.app/Contents/MacOS
imac: MacOS$ ./Armory
./Armory: line 5: 41124 Segmentation fault: 11 bin/python armorybuild/ArmoryQt.pyc
Darwin imac.internal.com 11.4.2 Darwin Kernel Version 11.4.2: Thu Aug 23 16:25:48 PDT 2012; root:xnu-1699.32.7~1/RELEASE_X86_64 x86_64
Mac OS X Version 10.7.5 on a 2.7 GHz Intel Core i5, 32 GB RAM
It's a known problem. No solution as far as I know
If it's Windows: I guess you could the equivalent from a cmd shell and note the error message