I found a solution to it (it worked for me).
In binaries directory:
Rename MassEffect2.exe as MassEffect2Launcher.exe
Rename ME2Game.exe as MassEffect2.exe
Now It Works fine and it can import Mass Effect 1 saves.
Hope work for everyone.
I found a solution to it (it worked for me at least). Uninstall ME2 and delete Mass Effect 2 folder in My Documents\BioWare. Reinstall Mass Effect 2 and launch it without using the config utility to import ME1 save. After ME2 has run for the first time exit and go to My Documents\BioWare\Mass Effect 2 and create a folder called Save and copy your saved game from ME1 to that folder (the save file will be something like Char_01-43-2-3-0-26-11-2012-15-10.MassEffectSave)
To prevent the need to download all the DLC's and bonus content again, go to your install path for ME2 (C:\Program Files\Origin Games\Mass Effect 2) and copy Bonus to someplace else and copy it back after the re-install and do the same for (C:\Program Files\Origin Games\Mass Effect 2\BioGame) DLC folder.
I haven't even tried to copy my save from ME1 to ME2, the game doesn't even start properly.
uninstalled, deleted all left over folders, launched the game, it worked, immidiately closed the game, and then tried to relaunch, nothing, will not load at all. deleted all auto generated files, still wont launch the game. I've pretty much given up at this point, May just download a torrent to play through it, so I can have my saves transfer into ME3 playthrough.
