I'm also having the same problem. My laptop Vista Home Premium crashed and I had to do a restore. I had everything working perfect before the crash but now I am getting the Panda error and Daemon error both. I uninstalled and reinstalled .NET Framework to see if that would work and it got me to the point of the program updating but after the update, it still gave the errors. Anyone figure this out. I love this program but it is driving me nuts.
If you want to mess with another program that I found, it does somewhat the same thing if you just want to mess with your files. It's not as easy as iPhone Suite but still gets the job done.
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