First of all, try to uninstall completely and then reinstall BSplayer (and by "completely" I mean also to delete the BSplyer.*.xml files, located in
C:\Documents and Settings\USER\Application Data\BSplayer on Windows XP systems, and in
C:\Program Files\Webteh\BSplayer on Windows 9.x/ME systems)
Then if this doesn't help, try to use my utility you can find
here, and tell me if BSplayer window is found or not (maybe you can also read the entire topic since the problems could be related)