I am not sure why the code below won't enforce a single instance application on my work machine (Win7) but it works fine on my personal machine (Win8) at home (e.g. only one instance of the application can be run at a time). As far as I know each kernel handle object with the same name can only be created once. But I can run multiple instances of the application on my work machine...
static void Main(string[] args)
{
    bool createNew;
    const string appName = "TestMyApplication";
    using (new Semaphore(0, 1, appName, out createNew))
    {
        if (createNew)
        {
            Console.WriteLine("One instance of MyApplication is created and running...");
        }
        else
        {
            Console.WriteLine("Only one instance of MyApplication can be running at a time... Auto shut down in 3 seconds...");
            Thread.Sleep(3000);
        }
    }
   Console.ReadKey();
}
 
    