The developer was bought by Corel a few years ago. The new developer discontinued the Image Expert software. Due to this, the application didn't get any updates. This means that it's highly possible that it will not work on Windows 8 and this might be the reason for the error.
You can try to run it using compatibility features in order to avoid the error. To do this, right click on the desktop icon and choose Properties. Go to Compatibility tab and choose Run this program in compatibility with Windows XP. If this isn't working, check the new programs from Corel that are similar with this one. You can do this on the official website.