So, my unresolved question is 'Why did the shortcut go bad?' I did not even know there was a program data directory for Spectrasonics. When I created a new shortcut, everything turned copacetic immediately. For some reason, the shortcut to sage was empty. I noticed that my shortcut to the SAGE convertor looked different than the one to the STEAM folder. They directed me to a Program Data directory with Spectrasonics info to delete some *.dat files.
Swapping emails with Spectrasonics Tech Support last night. Solved- though why this happened is a mystery to me.