MuvAudio 2 requires the .NET Framework 2.0 and for some strange reason, even though .NET 2.0 is installed, when the .NET 4.0 Client Profile is installed, it makes MuvAudio 2 think that .NET 2.0 is not installed.
We have released an
update to MuvAudio 2 that resolves the issue, which you can
download here. The latest version number (v2.9.9.0) remains the same but the installer is marked as
rev2. This signifies that it is the 2nd revision of v2.9.9.0 that only includes the MuvAudio2.exe.config file that resolves the issue.
After installing this update you should now be able to run MuvAudio2 when the .NET Framework 4.0 Client Profile is installed.