Oh no! You installed steam and skyrim in the Program Files folder... I heartily recommend you uninstall both steam and skyrim, and restart the install, selecting something like "C:\Games" as the install directory for steam. You will then be rid of all UAC (User Account Control) problems! Don't worry about your saves, they're elsewhere.
If you're getting UAC problems with Steam installed in Program Files, you screwed something up. It works just fine on every PC I own, all Windows 7 x64 with both Steam and Skyrim installed entirely in their default forms.
My new problem with 1.4 is that it does not seem to be restraining the mouse to within the Skyrim window anymore. I have multiple monitors, so this means if I turn left more than about 90 degrees I end up with the mouse cursor showing up on the second monitor. Click the mouse to do anything and Windows decides that I'm clicking on whatever's on that second monitor and backgrounds the game.