Exception at startup: Shader couldn't compile
Tried with Version 0.16 (MSI), 0.15 (MSI & Zip) and 0.17 (MSI & Zip)
Windows 7 32 bit.

It seems like you graphics card doesn't support opengl 3.2 which is what is used on windows. Linux is using opengl 2.1 and I will try to do a build for windows with that version and see if that doesn't make things work for you. You can see your opengl version using e.g. a tool like http://download.cnet.com/OpenGL-Extensions-Viewer/3000-18487_4-34442.html
I have two graphics cards. The integrated one (Intel i5; OpenGL 1.1) and a dedicated one (ATI Radeon 4300/4500; OpenGL 3.2).
The radeon should be able to run the software. I will try to force the usage of the radeon and report back to you.
Here is the output from the Tool you linked above: glview-GDI Generic-1.XML.txt