I came across this app a couple of days ago and had to have it, since I've been looking for this functionality for a long time. After following the instructions, I had the same problems as everyone else. The program showed up under More Programs but didn't do anything.
I noticed that deploy.bat was trying to reference a folder called Windows Media Components on my computer. After doing a little searching, I found that you must have the Windows Media Encoder 9 Series installed on your computer before you can successfully install think MCE plugin. After I installed it, I reran deploy.bat and everything worked great. Good Luck, and let me know if this works for anyone else!
Download Windows Media Encoder 9 Series here.