Well from what I see your Laptop should be more then enough to run the game. And you also have proper dirx (game may run on dirx9 or 11 and even in open GL. What I may advice is to try and update all drivers dirx and GPU drivers as well and if that does not work then try reinstalling c++ 2012 32 bit version maybe some of libraries got corrupted. And since I don't really know I have to ask, have you unzipped both rars? game is divided to 2 rars and you have to unzip only 1 of them but both need to be in same directory before you start unzipping (sorry I just had to ask in case you did not know). I do know several people who also use win 7 but they never had any problems with running the game. I will try ask engine devs what may cause this error maybe they will know more then me.
Edit: Also check on microsoft pages. Some people do have this error causes of another program when installed try check this thread and see if something there helps you:
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It seems that Microsoft visual studio have problems with HP notepads in general...