What version of Silverlight works with the latest 10.7 release?
Silverlight - 5.0.61118.0

MacBookPro9,2

50 - 10.7.5(11G63)

5 - 10.8.2(12A269)

Silverlight Prefs come up just fine.

Installed programs: 

Chrome 24

Safari 6 

Firefox 18

All updates

iLife

iWork

Office 2008

Adobe CS3

VLC

Smart Notebook