Hi,
run the Command prompt with admin rights [1] and run this command:
SxsTrace Trace -logfile:SxsTrace.etl
Now run the program which causes the SideBySide error.
Go back to the command prompt press ENTER to generate the SxsTrace.etl. Now type this:
sxstrace Parse -logfile:SxSTrace.etl -outfile:SxSTrace.txt
Now open the SxSTrace.txt trace and look which VC++ runtime is missing.
If you are unsure, please upload the complete SxSTrace.txt to your SkyDrive [2] and post a link here.
[1] http://windows.microsoft.com/en-US/windows7/How-do-I-run-an-application-once-with-a-full-administrator-access-token
[2] http://social.technet.microsoft.com/Forums/en-US/w7itproui/thread/4fc10639-02db-4665-993a-08d865088d65