I don't know what this is but I think that it is related to the FTDI driver. Which version of windows are you using and is it a physical machine or a virtual machine.

Could you rename your settings file in ..\Documents\mcThings\mcStudio\Settings.xml to SettingsSave.xml. Start mcStudio again and see if that works. If this does not work you  should try to connect the dongle to your computer and do not remove it for at least a minute. If there is a driver problem the system will update the driver

-John-