I had a similar problem and a quick fix to your issue is to make sure that you set your JVM option in the eclipse.ini file to use jre7. Older Jre's come with an old local policy file and this will return errors. One quick note also is that you need to point to your javaw not java.
-vm c:\PROGRA~2\Java\jre745\bin\javaw.exe -vmargs -Xms40m -Xmx512m -XX:MaxPermSize=256m -Dsun.lang.ClassLoader.allowArraySyntax=true