I am running XP sP2 and using Tixati v2.31

I tried to instal new version and this is what I get:

This application has failed to start because the application configuration is incorrect. Reinstalling the application may fix this problem

Any advice?

Have you tried a complete uninstall first? If you go to the bottom of settings you will find Import/Export save your settings and import them after your new install.

I always use the Tixati portable version - in this way there is no problem with installing and it does correctly associate torrent related files to the Tixati portable.