DebtMan
From your screenshot, your version of the MP3 Player Utilities is a very old version (3.5.02).
I recommen you update it with version
3.68 at least (it's very stable).
You can download from our site directly here:
http://www.mympxplayer.org/dload.php?action=file&file_id=327.
This should install fine on your computer.
I would imagine the one that came with your disc wasn't complete and missing some files. Try our version 3.68 and let me know if that installs fine for you.