The problem can be caused with a corrupted installation of the Adobe Air platform.

Please try the following steps:

1) Back up KLOK database
2) Grab Microsoft Install and Uninstall Fix It Application (http://support.microsoft.com/mats/Program_Install_and_Uninstall/en-us)
3) Perform forced uninstall of both Adobe Air and Klok2
4) Perform new install of latest Adobe Air
5) Perform new install of Klok2