This is a problem with ClickOnce deployments on your computer. You can fix this problem by deleting the files in the following folders:
C:Users\username\AppData\Local\Apps\2.0\
C:\Documents and Settings\<user>\Local Settings\Apps\2.0
C:\WINDOWS\Microsoft.NET\Framework\v2.0.50727\Temporary ASP.NET Files
Then run this tool from Microsoft to fix Windows corruption errors.
http://support.microsoft.com/en-us/kb/947821/en-us
Finally, uninstall and reinstall MCModKit.