I too had the exact same error and situation. I also like to keep my OS drive as sparce as can be, and always install software in a second D: drive, which has full admin rights. After deleting my first installation and reinstalling with the default C: drive location, everything worked as it should, including the updates.
Bottom line is that TT should make that very plain during the installation process that installing anywhere other than the default location can and will create problems.
