I found two references for that error.
Look here first. It is for Version 9 but the first item may be applicable. Don't use the second because it may screw up something else.
http://www.cyberlink.com/prog/support/cs/product-faq-content.do?id=11183&prodId=4&prodVerId=-1
The other indicated that a couple of .dll items were missing from the registry. Never use a Registry Cleaner because the aggressive ones will sometimes remove things that should not be removed.
This is for a different error but the repair was also cited in another source. Try at your own risk.
http://www.cyberlink.com/prog/support/cs/product-faq-content.do?id=2612
It is probably just as easy to try to repair the program. If that doesn't work, remove it and then reinstall it. Make sure your anti-virus if OFF during the install. It can also cause registry issues.
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BoilerPlate: To posters who ask for help -- it is nice to thank the volunteers who try to answer your questions !
Anything I post unless stated with a reference is my personal opinion.