which version of windows you are using...?
Its a good idea to install latest versions of Adobe flash player & Java. Also ensure that Fred2.exe is allowed by the windows firewall.Open Internet Explorer.
Go to >>Internet Options
Scroll down to the header "HTTP 1.1 settings"
Check the option that says "Use HTTP 1.1 through proxy connections"
Uncheck other options
If still same problem, try installing it to an another system.# localhost name resolution is handled within DNS itself.