This looks like a problem with Microsoft DotNet installation. Both the updater and the config tool are using the DotNet Framework. Microsoft has a DotNet repair tool that might be something worth to try:
http://www.microsoft.com/en-us/download/details.aspx?id=30135
Also disabling your virus scanner temporarily is something you should try.
You can use vorpX without the config tool BTW. Certainly not ideal, but most things can be adjusted in the vorpX ingame menu (press [DEL] while in the game).