Was hoping this new "security update" that was 2.5Mb would solve my problem, but it didn't. I know it affected the battle eye files.

Same problem here. I cant play Dayz because i have the same error.

I'm hoping that they get around to fixing this before, or around, the next update.
The reason I encountered this problem may be because I tried to play the experimental version, but when I was ready to play this happened. Even after reverting back to stable branch. I'm currently out of options for fixing this myself. Although, I did see another post from one of the supports here about moving your entire SteamApps folder to the desktop. Deleting Steam. Re-downloading steam and moving them back. He warned you may have to re-download some of the games. I'm on VERY strict data constraints due to my locations so I haven't got around to doing this. If by any chance you could give this a go... I would love to hear the results.

Boom! @Esnaker, I got mine working! I might be able to help you out here.
I followed these steps(loosely...):

1)Uninstall all battle eye programs from your computer.
2)Delete the BattlEye folder in your DayZ Game folder.

(try to run the DayZ.exe before continuing, if it does the same thing proceed.)

3)Delete the DayZ_BE.exe
4)Run just the DayZ.exe
5)Try to join a game(should say battleye initialization failed then kick you.)
6)Verify file integrity in steam.
7)Go back to the .exe's and unmark them to run as non-admin.
8)Make sure you have your permissions set to full control(I did authenticated users and "Users", not sure if there's a security risk there.)
9)Try and run the game through steam. If it worked correctly it should just flash a black cmd window and give it a second to start up dayz.

My command window went through a couple of phases. Talking about blocked files like razrsynapse's dll's and stuff. I'm not sure if you'll run into any of that. I also had the Dayz can not write to memory.

I hope I helped! I'm sorry if I didn't. Contact me if you need anything else.
My profile should have my email address. Leave a note if not. Cheers!

Hello Andrew0223.
This could be caused by BattlEye blocking razer synapse files. Please contact BattlEye support directly at http://www.battleye.com/support and provide them with as much information as possible so your issue can be resolved. I will keep the ticket open and let me know once BattlEye responds.
Regards,
Geez

My problem persists, it has not been solved and still with problems. Attached is a photo with the problem.