I posted this same issue a few weeks ago, and have yet to hear back from anyone on a possible solution. I've uninstalled and reinstalled multiple times, tried the resetting preferences... all of the scant DIY fixes I can find for Fireworks. None of it has worked so far. I still keep getting hung up at "Initializing keyboard shortcuts".
I may have a possible solution for you. Have you recently installed a Wacom tablet?
I ask because I was digging for answers and found an old post about how Wacom drivers weren't installing properly, which was in turn causing an old version of Fireworks not to work. It made me stop and realize that Fireworks was working fine UNTIL I installed my new Wacom tablet on my laptop. The next day, Fireworks started giving that error. So I uninstalled my tablet, and Fireworks now runs again.
I haven't reinstalled the tablet yet. But the post said that reinstalling the Wacom and then having it reinstall the drivers should fix both the Wacom issue as well as keep Fireworks working.
Hope this helps!
I am having the same issue with CS5 Fireworks. I installed OS Sierra then updated both flash and java players. I did ok for a few small projects (over a week) then I spent 14 hours making an animated .gif. Then FW started crashing. Now when I launch FW, I get to see the start-up window & tools, but the program crashes immediately... Please, someone, HELP!