This error can be caused by conflicting versions of the "mfc42.dll" being installed in various locations on your system. Follow these steps to resolve the error:
Go the "Start" menu on your taskbar and select "Find" - "Files and Folders"
In the "Find: All Files" dialog window type "mfc42.dll" in the "Named" field
Make sure the "Look in" field is set to "C:" and the "Include subfolders" box is checked
Click "Find Now"
In the list of items found that is generated, rename ALL instances of "mfc42.dll" to "mfc42.bak" except for the one in the C:\Windows\System directory - this is the correct location for the file and the one that VAMP uses