Error "System.MissingMethodException..." and "System.ComponentModel.Win32Exception.." during install (4264106)

During installation of Toad for SQL Server 5.8, the following error windows appear in Windows 7

System.MissingMethodException
Method not found: 'DevExpress.Utils.Images DevExpress.XtraReports.UserDesigner.XRDesignBarManager.get_Images()'.
Stack Trace:
   at Quest.Toad.DataReport.FormattingExtension.GetImageList()
   at Quest.Toad.Plugin.AssemblyExtensionHandler.CachedAssemblyExtension..ctor(IAssemblyExtension extension)
   at Quest.Toad.Plugin.AssemblyExtensionHandler.GetExtension(PluginAssembly plugin)
   at Quest.Toad.Plugin.PluginAssembly.get_AssemblyExtension()
   at Quest.Toad.Plugin.AssemblyExtensionHandler.GetExtension(PluginAssembly plugin)
   at Quest.Toad.StartupForm.Main(String[] args)

Another error appears with the following error.
===========================================
System.ComponentModel.Win32Exception
Invalid window handle
Stack Trace:
   at MS.Win32.UnsafeNativeMethods.CreateWindowEx(Int32 dwExStyle, String lpszClassName, String lpszWindowName, Int32 style, Int32 x, Int32 y, Int32 width, Int32 height, HandleRef hWndParent, HandleRef hMenu, HandleRef hInst, Object pvParam)
   at MS.Win32.HwndWrapper..ctor(Int32 classStyle, Int32 style, Int32 exStyle, Int32 x, Int32 y, Int32 width, Int32 height, String name, IntPtr parent, HwndWrapperHook[] hooks)
   at System.Windows.Interop.HwndSource.Initialize(HwndSourceParameters parameters)
   at System.Windows.Window.CreateSourc...