Are you sure that you are not encountering a rigid body motion?The frequencies for rigid body motions sometimes come out as very close but not exactly equal to zero.
Another point:for low cycle fatigue, strain based life estimation approaches can give more reliable results compared to stress based ones.However strain based FEA techniques are much harder to implement (IMHO).
Change the file extension and try again.But you will probably have great difficulties while meshing that IGES file.Try to use a 3rd party software like SolidWorks and export as a parasolid.CATIA IGES files are hell.ANSYS 5.4 may not be supporting new IGES versions either.Also you may try to...