Take a look at my reply at the bottom of this page:
https://forums.stardock.com/436973/page/2/#replies
If you have shortcuts to folder or files on network drives, but those network drives are not available, then Fences hangs horribly at startup. The more shortcuts, the more it hangs.
To test, create a normal folder on your desktop, move all the network shortcuts into it and reboot.
Please add a "me too" comment at the end of that thread if this is what's happening for you, and hopefully Stardock will consider fixing it. Maybe.