Hmm, that's a bit misleading. It says the project file doesn't require conversion, then says it's not installed. This is a C# project; do you have C# installed, or just VB? If only VB, you can just rerun the VS installation and add/remove components to add C#.
Alternatively, it's ready built in the download. Under WebMenuEdito\bin\Debug there is an executable that should run.