Just a suggestion, as you mentioned it not working in compatibility mode. Have you tried to run it under "safe mode"?
I had an application (Surething CD Labeller) that crashed immediately like your problem. I got round it by booting the computer to Safe Mode, and reinstalling / running - it worked. Rebooted back to normal mode and it still worked. There may be some DLL's that can't get installed using your login account.
Also do you have Administrator security access on the PC, this program may need it. Check the account in User manager.
In case you don't know, Safe mode is obtained by Holding down the F8 key before Windows starts loading, ie after your PC memory count (too early may give you a BIOS error about a key stuck down). It should bring up a menu of options. Pick Safe mode and try it.
Good luck.
(For me though, it installed and worked straight away no issues whatsoever.)