Based on what I've found, it appears that 365-Day Essential Chinese (I) wasn't meant to be launched on Windows 8.1 because it lacks compatibility with this operating system. You will have to install Windows XP through virtualization to be able to launch the 365-Day Essential Chinese (I) software, but this assumes you already have the Windows XP ISO or original disc available at hand.
After you successfully install the XP OS, go to Tools > Install Virtual Box Addons from Virtualbox to enable GPU acceleration, etc. Also, mount the CD in the virtual machine and start the installation there.