just for the statistic:
i got exactly the same problem: new patches installed (1.55. and the other stuff for Arma2 and Arma BAF) and i cant join a server using battley eye: "battle eye initialization failed" -> it throws me back to the server select list
iam using all arma programms in steam
windows 7 professional
running all (steam, arma2, arma2oa) as admin
plz give a solution that works, not that standart saying: "run as admin" -> I DO !!!
this is really shit
i payed for the game and a patch made it unplayable