I have the same problem! I am running win 10 and it shows only the tray pop up "Oculus Tray Tool" Starting up, please wait..... it was working fine in the beginning. No clue, no google threads about it. nothing 😕
Same problem with me! Win10, worked 1st without problems. And now it shows the same described freezing behavior. Maybe it's on of the latest updates. My windows 10 update version number is: 1803. Which version numbers do you guys have?
Check the first post of the Oculus Tray Tool Thread, there you will see ApollyonVR - just send him a PM. OTT.log file is in your Oculus Tray Tool folder. You can attach it to the PM you send. ( may need to zip it ).