One-click installer, Windows 7 32-bit, and icacls.exe

I saw a thread where somebody saw icacls.exe being called by the
one-click installer. I'm having the same thing - the installer has
been running for 45 minutes now and is basically going to have to be
stopped because I'm out of time waiting for it. Looking at process
monitor, it is clear that icacls.exe is going through every file on
the entire system and changing its permissions. The process tree
indicates that it is a child of the installer, and that it is running
the command:

icacls C:\ /grant "kawright":RX

Clearly this won't do at all and should be considered a severe installer bug.

Thanks,
Karl