Are you initially installing from a disc, then updating to the latest version?
What you can download won't be the full program, just an update.
Also (important) look in the program files and open your new version not the old one.
It is listed like a separate program.
If you're still opening the older version it might not recognise your station (a Vue?)
Otherwise the best plan might be to uninstall the whole thing and start over with the disc and then the update.
By co-incidence I was trying to do this on an XP netbook yesterday evening and had to start over.
The reason seemed to be that windows was downloading or installing updates in the background (I had just re-installed XP an hour earlier, should have been more patient!)
I discovered you have to open the older version before you can update with the latest download too.