An application unhandled exception has raised:

System.NullReferenceException: Object reference not set to an instance of an object.
at System.Windows.Forms.ToolStripProgressBar.set_Value(Int32 value)
at Icomancer.Interform_Functions.UpdateOnScreenPreviews(ToolStripProgressBar& UpdatingProgressbar, ToolStripStatusLabel& UpdatingProgresslabel, PictureBox& PictureBoxFor16pxTarget, Dictionary`2& PreviewThumbnailsCollection, Boolean ProcessOnlySmallImages) in H:\Icomancer\Icomancer\Interform_Functions.vb:line 403
at Icomancer.frmImbuer.UpdateOnScreenPreviews() in H:\Icomancer\Icomancer\frmImbuer.vb:line 879
at Icomancer.frmImbuer.frmImbuer_Shown(Object sender, EventArgs e) in H:\Icomancer\Icomancer\frmImbuer.vb:line 95
at System.Windows.Forms.Form.OnShown(EventArgs e)
at System.Windows.Forms.Form.CallShownEvent()
at System.Windows.Forms.Control.InvokeMarshaledCallbackDo(ThreadMethodEntry tme)
at System.Windows.Forms.Control.InvokeMarshaledCallbackHelper(Object obj)
at System.Threading.ExecutionContext.runTryCode(Object userData)
at System.Runtime.CompilerServices.RuntimeHelpers.ExecuteCodeWithGuaranteedCleanup(TryCode code, CleanupCode backoutCode, Object userData)
at System.Threading.ExecutionContext.RunInternal(ExecutionContext executionContext, ContextCallback callback, Object state)
at System.Threading.ExecutionContext.Run(ExecutionContext executionContext, ContextCallback callback, Object state, Boolean ignoreSyncCtx)
at System.Threading.ExecutionContext.Run(ExecutionContext executionContext, ContextCallback callback, Object state)
at System.Windows.Forms.Control.InvokeMarshaledCallback(ThreadMethodEntry tme)
at System.Windows.Forms.Control.InvokeMarshaledCallbacks()

That's something similar to what's described here:
http://www.lavasoftworks.com/icomancer/forum/index.php?id=162

So, as I've replied there:

Something is messing icomancer at memory level. Something in your computer (mostly a high security software piece) is not letting icomancer even start, for this message comes from the splash window.

So please check with your antivirus software and/or run icomancer as administrator so it runs smoothly.