WM Recorder error message after upgrading to WinXP: Cannot find recording directory

[Mojorisin]

I am getting an error message when using WM Recorder 11.2. It says "Cannot find recording directory". I just upgraded from Windows 2000 to Windows XP. This never happened in Windows 2000. I am logged in as the administrator, for what that's worth.

Another thing that seems odd is that none of the settings seem to "stick". For example, Media Options check boxes don't stick. Perhaps the software isn't writing to the registry? That wouldn't bother me so much, but it seems like the only media type I can record now is .flv files. My registry entry is attached here:

Windows Registry Editor Version 5.00
[HKEY_CURRENT_USER\Software\WMR11]
"RegCode"="abc123"
"Directory"="C:\\Program Files\\WMR11"

Suggestions?