This tutorial will help anyone if they are having trouble with opening Windows Live Mail (any version)

Usually the starting window will stay on the screen or another box will come up saying "Recovering the Windows Live Mail Database"
You will need to stop this first before you can continue.

1. Press Ctrl+Alt+Del.
Click the Processes tab.
Click the Image Name to put them in alphabetical order.
Find wlmail.exe.
Press End Process and End Process again.

2. Press Windows key+R
Copy and paste this into the box
C:\Documents and Settings\Emily\Local Settings\Application Data\Microsoft\Windows Live Mail
This folder is normally hidden and access is usually denied. Going through the Run Command will overcome this.
Press Ok.

3. Go to the folder Backup -> new
There will be a file called Mail.MSMessageStore
Delete it.

4. Try opening Windows Live Mail again. The window "Recovering the Windows Live Mail Database" will pop up again, but this time, the program should open.

You may have to re-add your mail accounts again like I did.

Good luck!