I just played CO a couple of hours ago...

It was running fine and all but when I tried to log in to play again I got this error message..

Stating ... Error reading application id. Please either write it to steam_appid.txt or use the launcher!

Well I am using the cryptic launcher when I play the game.

I will be uninstalling the game and reinstalling it in awhile and see if it will be doing the same thing after the patch upgrade.

Sounds like you play through steam and that its some kind of steam error. If you uninstall it you have to do that
from inside Steam, since that restores some Registry keys that the game isn't started through steam any longer.