Starting fsx without fps limiter bat file, it starts ok, but it is when i try to start the bat file which starts fsx that i get the errror.
I've tried it now, and it works just fine, without doing anything. I have the 0.2 version of the fps limiter.
However, it might depend in which folder you install it. Try to modify the Properties in the Compatibility tab of the FPS_Limiter.exe file, to run As Administrator, and check that none of the other compatibility modes is enabled.