Yes, it is persistent. Everytime I click on the Updater.
I uploaded my Updater.exe file Here
you could try to replace yours... maybe it got corrupted somehow. Otherwise, you might have to re-install Shaiya and make sure that you have internet explorer installed on your computer.
download is a full client updated completely.
On top of that, make sure your firewall/antivirus isn't set to block any of the game files o_o