This should go into the Questions section just so you know.
Did you completely install the LastCO Install file. Then use the Update.exe provided on the LastCo.net Downloads page?
Make sure you run the Launcher.exe to make sure you have all the files correctly installed.
If that still didn't work, please let me know what Operating System you are using.
Also another tip may be that if you are using Vista, you may have to restart before you can run the Update. Sometimes it won't fully create all the files.
Try to restart anyway before you run for the first time :).
GOOD LUCK!