After searching for that error message in the Microsoft Knowledgebase, I found a couple of articles for problems similar to yours. One was an error in Word, and one was an error in Ifranview.
In Word, Vista said to ignore it. For Ifranview, they have a hotfix for that problem. Other than that, it doesn't seem like there is a generic fix currently for that error message.
In the Ifranview page, it said do not download the hotfix if you are not experiencing the exact problem. Just wait for a service pack to hopefully fix the incompatibility issue you are experiencing.
From what I gather, it seems like it is just some sort of incompatibility with Vista.
I would try to run the setup program in Windows XP compatibility mode. Right click on the setup executable, then click properties, then go to the compatibility tab, then switch it to XP compatibility mode. I haven't yet done that in Vista, so to find the compatibility mode, it may take a slightly different method.
If that doesn't work, I can only imagine the setup program for that webcam is just not compatible with Vista. The only thing I would think to do at that point is call the contact the company directly and tell them the issue you are having and hopefully they know how to handle it.
Hope that helps!
