Automation, "The specified path c:\program files\Microsoft Visual Studio 9.0\Common7\IDE was not (4261710)

I am using Toad for SQL and I am creating an automation with different steps. When I add a FTP activity, the exclamation mark shows up and says FTP Destinations directory is not specified. I am not sure what I ammissing since I thought I defined the directory. Also, when I click on the Remote Directory under Upload, I get the following message, The specified path c:\program files\Microsoft Visual Studio 9.0\Common7\IDE was not found . We do not have Visual Studio and do we need it in order to use FTP in Toad?

WORKAROUND:

None

STATUS:

Waiting for fix in a future version of Toad for SQL Server.