It looks like Zinio had already been running iOS4 in the emulator like most developers prior to the release of iOS4 as one day later Zinio have released an update to their popular Zinio Magazine reader for the iPhone, iPod Touch and iPad.
Installing the latest update has now fixed the launching problem which is great to see. However, I am still seeing some problems when downloading magazine, when its partway through the download process and you start to swipe through pages it has downloaded, it hangs. If you try to relaunch you then get the splash screen and it hangs again. If you then take the extra step to close the running program and relaunch, then it gets past the splash screen freeze.
So if you experience any freezes or hangs on the latest Zinio update, ensure you wait for the magazine to fully download before trying to read it and don’t try to read it whilst pages are still downloading.