I have tried to install the update only that it refuses to find the directory to install to. I have checked for the "Missing File" but it is there. Any sugestions?

Did you put in the CD when the updater asked for it and make it past that part?

If you still can't get it please fill out the contact form
www.clickteam.com/eng/contact.php

We would need to know your serial number to give you some help with this.

and I think you meant to post this in the MMF Tech support forum.
Its at the top of the page.