Open the System Event Viewer: Control Panel -> Administrative Tools -> Event Viewer -> select System in the left pane.
There should be some errors (usually 3) on the top with source SideBySide. Double-click them to read the full message. They should be something like:
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Generate Activation Context failed for C:\Documents and Settings\jfs\Desktop\aegisub32.exe. Reference error message: The operation completed successfully.
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Resolve Partial Assembly failed for Microsoft.VC90.OpenMP. Reference error message: The referenced assembly is not installed on your system.
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Dependent Assembly Microsoft.VC90.OpenMP could not be found and Last Error was The referenced assembly is not installed on your system.
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Get all three messages, they should help tell what the real problem is.