I'm having the same problem (albiet on Vista x32), so I'll provide the information the OP neglected to mention:
After installing the application and rebooting, the following errors appear in the windows event log:
Logged: 5/2/2008 9:14:40 PM
User: eldee
Unable to launch. System.Exception: Could not initialize MceState
at babgVant.MediaCenter.MceState.MceStateConsumer.MceState..ctor()
at babgVant.MediaCenter.CommercialSkipAddIn.CommercialSkip.Microsoft.MediaCenter.Hosting.IAddInEntryPoint.Launch(AddInHost host)
Logged: 5/2/2008 9:14:40 PM
User: eldee
Unable to uninitialize. System.ObjectDisposedException: Safe handle has been closed
at Microsoft.Win32.Win32Native.SetEvent(SafeWaitHandle handle)
at System.Threading.EventWaitHandle.Set()
at babgVant.MediaCenter.CommercialSkipAddIn.CommercialSkip.Microsoft.MediaCenter.Hosting.IAddInModule.Uninitialize()