Hey guys. I've experienced this issue a lot, every build since (and including) 7100. Even the RTM gets it.
When I first noticed it there was nothing on the internets about the issue yet. lol I remeber telling Brink about it when I found it on 7100, and he hadn't heard about it.
I did however come up with an imediat fix for it once I found it. So I thought I'd let you guys know how and explain it.
As far as I can tell, it's the actual .exe that gets corrupt. I came to this conclusion from testing the .exe on machines that had a working one. The corrupt one will not run, however, the other one will.
To get yours working again, simply take control over the corrupt one, and replace it with the compmgmtlauncher from vista. Then it will work again, and
will not quit working after a while.
This is more of a work around, but hey, it restores function to everything, like the "Manage" context menu entry.
There's no options loss or anything from replacing this with the vista file as far as I can tell, because I believe compmgmtlauncher.exe's soul purpose is to allow launching from context menu's and by other means, since it won't allow you to use compmgmt.msc that way.
So all it does it act as a shortcut to compmgmt.msc

I've kept a copy of my original compmgmtlauncher (the corrupt one), in a different location, just incase Microsoft releases a fix and I need it. So you might want to do the same
Use the Take Ownership shortcut from Mr. Grim to take full control of the corrupt .exe to replace it. (right-click system32 and take ownership)
http://www.sevenforums.com/tutorials/1911-take-ownership-shortcut.html
I've attached a copy of the compmgmtlauncher from an install of Vista Ultimate x86. It doesn't matter what version of 7 you're running, even x64 or x86, this will work
I hope this helps
To the Admins - If I'm not allow to upload this file, then I will remove it right away 