Game directory is invalid

Before loader update Minecraft worked.

Open loader ( any account )
Click Play ( any version )
Popup:
ERROR
The game directory is invalid or inaccessible.

(More Details)
The game directory is invalid or inaccessible.
Error details: The system cannot find the file specified
Filename on disk: .minecraft
Path: C:\Users\Larry\AppData\Roaming\.minecraft
Exists: directory

I confirmed that the directory does exist and all mod's and saves are in there.

It might be related: C: is a SSD with Windows and user accounts. The .minecraft folder is a Junction Link to my large HD drive.

This setup has been working for approx a year and the first problem I've ran into is this new loader.