Upgrading the 32 or 64 bit version of Java changes the shortcut to an invalid link and the application no longer works.
This is because the Velocity Connector shortcut points to an executable in the Java directory and the directory is labelled in folders corresponding to the version number.
As a result if you have upgraded from Java 1.2.1 to 1.3.1 you will need to right click the Velocity Connector shortcut and choose properties and change the folder from:
"C:\Program Files\Java\jre1.8.0_121\bin\java.exe"
to
"C:\Program Files\Java\jre1.8.0_131\bin\java.exe"
or similar