This is exactly what happens to me, even after I tried to uninstall, remove the TF directory and have Steam re-install on a different drive. Seeing that everything except the OS on my system is different, I am led to suspect a rather fundamental bug. Is there something the uninstall and removal of directory leaves behind that is referenced during startup? My other computers do not have graphics that support TF, so I cannot try on another computer.
Windows 8.1 Pro 64-bit, kept updated
Core i7 4770 @3.40GHz
GeForce GTX770 @2560×1440, 59Hz