I have the same problem with HP Compaq 6200 Prp SFF (Intel HD Graphics 2000) running Windows 7 Enterprise 32-bit and JInitiator 126.96.36.199.
I'm also unable to launch JInitiator 188.8.131.52 from control panel
I found the solution that worked for me on this site:
"Control Panel, jInitiator and then in Basic label add
to Java Runtime Parameters field"