I think I have solved the error bug!!!!!!!!!!!!!!!!
I installed .NET Framework and I still got the error message. Then I looked at the XML file located in the System Preferences v02 folder and the path to the exe file was wrong!!
So I just changed the path to where my folder is and also all the other preset paths in there!!!!
It works beautiful now!!!!!!!!
Open the XML file with WordPad or whatever. 
:own:
I don't know if it was really necessary to install .NET or not now that I know what was causing the error. 
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