Symptoms of the problem:
After upgrading OS X to 10.10, Imatest no longer starts
Source of the problem:
A newer version of the java virtual machine can conflict with the version used by Imatest.
Open an OS X terminal window (hit ⌘-Space
Enter the following command:
sudo rm -rf /Library/Java/JavaVirtualMachines/jdk1.8*.jdk
Press return and authorize the change by entering your OS X user password
Download and install the latest Imatest full release (not the upgrade).
Deactivate and reactivate your license. The license manager is found by selecting help>license manager in the tool bar.