This issue is caused by various things, but the most common are:
The connection to the LED device wasn't successful. Before modifying other parameters, test the connection and make sure that it's successful.
Permissions: Run the application as Administrator. If those parameters need saving to a FILE on the system partition and you launch it as a regular user, then you will receive the above error.
Note: I don't think that Firewall needs to be configured since we're talking about local connections, but add the LED Control Center to the Exclusion list just to be sure everything works normally.