Hmm, everything looks fine. Thank you for the screen shot, by the way!
Let's try going in another direction, a couple of things...
First, do you have an Antivirus software? Like McAffee, Norton or AVAST! or something that extreme? (Windows Defender/Security Essentials is fine). I know some antivirus' are picky...
Have you tried running as an administrator? Sometimes when you download programs from the internet, Windows will 'Block' the EXE and prevent you from doing certain things with them.
Right-click on the 'togainunochi.exe' and select 'Properties' from the bottom. Look for something similar to this image here, ignore the fact that it's for DMMdrc, and just look at the bottom Red circle. That button there, if it exists, means the Program is being blocked from performing certain functions. Try unblocking it if it is set that way.
Attachment 165660
Lastly, it might be a program conflict. This one's really out of left-field, though, so it's a bit drastic.
Sometimes drivers from other programs/games end up running in memory whether you're using them or not, and conflict with other programs (Hence, the Antivirus I was talking about earlier). We can test if something is conflicting, by using a program called 'Sandboxie'. (
Sandboxie - Download Sandboxie)
Sandboxie is a program that 'wraps around' another. When it's installed (and after you restart), you can now right-click on programs and select the option 'Run in Sandboxie'. The program will then run in a sandboxed enviroment, where the memory is locked specifically to the program being run, and nothing can interfere. So this prevents Virus', Malware, and driver conflicts from encroaching on how a program runs.
(Running internet browsers through Sandboxie, for example, will prevent Virus' from adverts from running.)
If you can try running TnC through that, it might work. I know I had to use Sandboxie to install a few games, because the InstallShield program wouldn't run from a driver conflict.
Good luck with these suggestions, and let me know how it works!