The problem is not with the software, but with a library that's missing on your computer. That library is related to the DirectX functionality which means you will have to install the latest version of DirectX and the software will run again. Use the link below to download the June 2010 installation package.
Download page: http://www.microsoft.com/en-us/download/details.aspx?id=8109
Download the setup file, extract the contents when it asks, then browse to the installation path and launch the software, then it should work.