It happened after an automatic Windows update that took place yesterday... I don't know why the update would fuck up Elephant but anyway...
I reinstalled Elephant and PostgreSQL as per the instructions given in the forum, and now when I load it up it prompts me to create the databse. I put in the correct username and password... it processes for a while, then tells me that everything is OK, then vanishes into thin air. I restart it and it gives me the same prompt, then again it vanishes!
Halp!