Failed to initialise renderer subsystem

After the most recent update the game gives me this message the moment I try to launch it. Googling the issue didn't bring up anything helpful. It seems like most people get this issue when their graphics card isn't powerful enough to run the game, but that definitely isn't the issue on my computer.

GTX555
AMD A8-6600K CPU (4.1ghz quad core)
8GB RAM
64bit Windows 8 install
Steam Version of PoE

All drivers and directX versions are up to date. Tried validating and reinstalling but no luck. Anyone have any ideas?