Hi mrfrench,
Thanks for the detail regarding your issue. Could you please ensure .NET 3.5 is installed on your PC as this is a prerequisite (unfortunately v4.0 does not necessarily support all the features of v3.5).
You can download v3.5 here: http://www.microsoft.com/en-au/download/details.aspx?id=25150
Could also please advise if you use the Tickstory setup.exe or did you just copy the files to your PC? If the former, the installer should advise you if you dont have v3.5 installed.
Thanks.