Yes, if UAC is on, you need to select "run as administrator" when you launch the program.
Without "run as administrator", the program starts with a low privilege level regardless of the type of account that starts it. The difference between an admin and non-admin account is that the admin account has the power to select "run as admin."
You might want to try launching WoW with "run as administrator."
Also, if you haven't done so, you might want to check the operating system's error logs. (Control Panel : Problem Reports and Solutions : View Problem History ... sort by date and double click item to see details.) WoW probably also maintains an error log although I'm not sure about that.
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