Crash in the Foundry

I recommend verifying the game cache.. Its possible you are missing files.

To verify cache, right click the steam game in the list, properties, Local files tab and find the verify cache button. Click it and wait till it finishes.

It will download any corrupted/missing files.

As for the other stuff, it was too long ago to remember.

Original Answer

Try to uninstall the game completely, and re-install it. At the same time clean out the Steam Cache.

I did some additional research, and found this: http://www.crashwiki.com/fix-walking-dead-season-2-crashes-stopped-working-errors-poor-fps-bad-textures/

That might give you a couple of potential fixes to try as well.

Edit One

I saw the game was not yet marked as answered by someone, so I am assuming your still having this issue. So I spent some time looking online, and found some other people were having similar issues.

I found the following troubleshooting routines, " There is a possibility that you may experience black screen and a crash after that when you try to launch The Walking Dead Season 2. To fix it, you can do the following:

• Try verifying the integrity of your game files through Steam.
• Try running the game manually ‘as admin’
• If you are using a wired controller or any USB peripheral other than keyboard and mouse, try unplugging them.
• If you are using third party tools like Fraps, try disabling them. "

With that being said. I think verifying the integrity of the files would be a good first choice. Secondly I would try playing around with "run as administrator" and various other compatibility settings to see if you can find the right fit. Also, do you have 32 bit or 64 bit Windows 7?

Edit Two

I also found the following link: http://guide4games.net/walking-dead-season-2-episode-1-crashes-black-screen-launch-issues-fixes/

Per this link, there are several additional things you can try to rule out.

• Verify that you meet the minimal requirements to run the game. This is very likely, but a good thing to check.
• Definitely try reading the part about the controller issues. Several people have had it crash due to a gamepad, so that is a good troubleshooting technique to rule that out.
• There are many other troubleshooting techniques at that URL as well, so perhaps run through those and try them one fix at a time.

Good luck!