Hmm... Actually, it works just fine the first time I run it. After adding a game, the box art does not show (but the background does), but it still runs fine. After restarting LaunchBox, I get a new error:
System.ArgumentException: Parameter is not valid.
at System.Drawing.Image.FromStream(Stream stream, Boolean useEmbeddedColorManagement, Boolean validateImageData)
at System.Drawing.Image.FromStream(Stream stream)
at LaunchBox.Caching.ImageCache.PrepopulateImageCache()
at System.Threading.ExecutionContext.Run(ExecutionContext executionContext, ContextCallback callback, Object state)
at System.Threading.ThreadHelper.ThreadStart()
However, I can push the error behind LaunchBox and it works fine, except for box art. Here's another screenshot if it helps any: http://puu.sh/bgF3j/89471bd6ef.jpg