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chrome.exe is not in the 'programs' folder and so also not in windows search path!
for me the best solution was: - copy a working 'chrome' shortcut from your menu or desktop - right click and edit 'properties' - change the 'destination' entry and add the argument '-ignore-gpu-blacklist' - rename shortcut to 'chrome without SSE2' or something ;-)
what a strange idea to show an error message like this, instead of handling the situation automatically. hopefully the chrome developers will change this behavior!