nRFUart Example - "Exception in StartMasterEmulator: -100"

I have tried using the pre-built nRFUart Example in the Master Emulator API (2.1.11.1) and get the above error

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I also tried rebuilding - no change.

I do have a PCA10000 dongle with the Master Emulator loaded, and Master Control Panel works fine with it:

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So what's missing?

Running on Win7-Pro.


Edit:

Updating the Question, as the comments can't show images or fixed-format text.

After the update, the nRFUart example looks like this:

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But pressing the 'Connect' button does nothing at all.

The Log File is attached:

log.txt