Hi skc,
do you still have this problem?
A few days ago i also experienced the "Application unable to start correctly(0xc000007b)" Error. I got it when i changed to a new pc system. Drivers were of course all up to date. Newest DirectX installed, the c++ redistributable all installed. Did RegClean and everything, nothing worked...
For me the solution was found in the following thread:
http://forums.eagle.ru/showthread.php?t=87510&page=2
Check your DCS installation with a programm called "Dependency Walker".
In my case the file "d3dx9_43.dll" was corrupt, same problem the guy in this thread had. I replaced this file with the one "Sanch0" posted in the mentioned thread. And then DCS worked again!!
Maybe give it a try.
Good Luck! Cheers!!