yes I had same issue with that too .. couldnt connect to Internet - the previous night the first message flashed up about McAfee Update Launcher has stopped working. Next morning on starting up computer, could no longer connect to internet I ended up contacting our ISP provider who was able to advise on couple of aspects of settings, commenting that it appeared to be with our security program. I think her help was a bit outside of the level support they were supposed to provide, but it only took a couple of moments (after finally getting through) including a 'ping' test and a restart of computer.
But now if you check out McAfee's home page, it does now acknowledge some glitch that was in a recent update and offers a link to follow, if that is of any use.
For me, between my ISP provider and the using the MVT, the issues got resolved and all back up working again.