On Wednesday I updated my iPhone 4 to iOS5 and all my 3rd party apps worked fine. Then on Friday when my iPhone 4S arrived I transferred everything over. The phone works great and all the core apps work fine, but none of the 3rd party apps work at all. They "blink" if I click on them but none of them will launch - even ones that have just been updated. I have a couple of key apps with years worth of data that I really can't afford to lose. I have done a hard reset. I have restored the software and restored from backup and still the problem is the same.
Any suggestions as to why this is happening and more importantly how I can resolve it?