It is weird because I still can use the version v3.0.1 without any problems.
Make sure you did not upgrade to last version v3.0.2 before using the CRACK and If the case remove completely every traces of AVCLabs with Revo Uninstaller or CCleaner Pro
Maybe users who have installed the program for a while do not have this problem.
Normally the setup would install the necessary components for the program to run.
You only have the choice between update or close the app.
You can choose update later or skip update but no matter what you choose the program hangs and does not install the required components. And then hangs in the initialization.
I tested it with windows sandbox to make sure I have a clean system to avoid my own failure^^
Maybe it prevents the required components from being installed if you don't update. And without an existing internet connection only comes: Unfortunately an error occurred while reading the configuration file.
@DELvEK you like to check my theory maybe?