I think a little tough to have used the Backup tool without the installation, I have it installed on my system since last year.
Here are two tests I did:
1 - Uninstalled the backup tool, run CCleaner, deleted the folder "Winamp_Backup" and installed again backup tool and run the first screen and click in cancel, I run the info tool again, it reported the backup version of the tool, but does not run saying that the himself was not present.
2 - Uninstalled backup tool, run CCleaner, deleted the folder "Winamp_Backup", I deleted of the register:
"BackupToolPath"="C:\\Documents and Settings\\Administrator\\Application Data\\Winamp_Backup"
rebooted my xp, after the restart installed the backup tool, rebooted again, after the restart, run the info tool and it informed the version backup tool, but did not run saying that it was not present, so I performed a custom backup of all files and again run the info tool and continued the same, only stating the version and click run reported that the backup tool is not present.
I saw your screenshots in the version of your backup tool is new for me, would not it?