I had this problem also. I have installed it now on 3 different phones and the 2nd one took about 45 minutes of trying to finally get connected right. I noticed they all finally worked when I ran it as administrator. (Vista) (Right click-Run as admin)
This was happening to me too. It kept giving me an error that said the application wasn't compatible. I downloaded Lyricidal's hybrid and the loader.exe file that loaded after the install worked.
The UI has ICONS with no names. All the info bars at the top are gone. Can't get to applications in order to look at options. Pressing an ICON goes to the appropriate application. It appears to be purely a Home Screen issue.