I had the same dang problem. I think after googling that error I came up with the fact that I needed to install the most current .net framework or something for windows.
I would recommend googling .net framework V4 (I think that's the most current one) and downloading it. People on these forums could probably give you a better and more in-depth reason as far as why that solves the problem, but I believe it has to do with the software and code that the guy who invented the launcher used.
Hope this helps
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