Uninstall and reinstall the application and if you still get the Visual C++ error,check if you get the same error with WINPE.If yes,check if the machine is part of domain .If yes, remove it from domain and then try to manipulate Boot Wizard.If this resolves , probably there is a GPO which is preventing from you to manipulate boot wizard.Also check if there is a security software inistalled on the server and disable the same to see if it makes any difference.
Patch 2269 could also be the solution.