Hi there! Thats a common error message. Try this and see if it works:
1. Run the setup program and PAY ATTENTION to the folder where you are installing the software. Keep clicking on the "Next" button and here it is, the progress bar.
2. When the progress bar reaches 100% and you get the 0x80040707 error message, DO NOT click "Accept" or "Ok" or whatever says the button in the error window. Instead proceed as I describe:
3. Go to the the folder where the program is supposed to be installed. Yes, it's there!. Copy this folder to another location (for example, to the desktop).
4. Now click "Accept" or "Ok" in the 0x80040707 error window. This will erase almost every file in the folder where the program was originally installed. Who cares? You have a copy of it.
5. Now overwrite this almost-empty original installation folder with the one you backuped.
6. If you want you can even create manually a shortcut of the EXE file that launches the software wherever you like. Double click it. Does it work?