There are so many things wrong with that code I don't even know where to begin. I hope the guy who wrote it is long gone.
The loops make no sense and serve no purpose, they can be ignored, I think they're a left over from when this code was actually written as a loop that worked across a list of processes.
Also, CAEState is set to " CAE is not Running" if all the processes are dead and it's set to " CAE is Running" if at least one process is running meaning that if one out of seven is up CAE is deemed to be up. This might or might not be correct. Seems weird to me.
I would suggest trying something more like this;
Dim processes() As String = {"Radskman.exe", "Hide.exe", "RadPinit.exe", "RadConnect.exe", "Connect.exe", "exbexit.exe", "Forcedreboot.exe"}
Dim allAreRunning As Boolean = True
Dim atLeastOneIsRunning As Boolean = False
For Each processName In processes
Dim isRunning As Boolean = IsProcessRunning(processName, "somecomputername")
allAreRunning = allAreRunning And isRunning
atLeastOneIsRunning = atLeastOneIsRunning Or isRunning
Next
If allAreRunning Then
End If
If atLeastOneIsRunning Then
End If
Hope this helps,
Fredrik