Tuesday's Station Launcher update apparently didn't fix the updating issue many people were having, forcing players to revert to the old launchpad for their SOE games.  Dan Kinney posted  Thursday evening:

Here is our current plan.

We are backing out the changes that we made to the updating code in 1.0.7 and will be deploying an update tomorrow.  We have not been able to isolate and reproduce the problem that many of you are seeing, so we have no choice.

I will provide more details on the timing of the new release first thing in the morning, but it will happen before noon California time.

Hopefully the Station Launcher team can work the bugs out of this most recent build!

Update:   Dan Kinney is asking for volunteers to help reproduce and isolate this issue.  Please see:  URGENT: Testing needed.

Source:  Station Launcher forums