Update: We have now added a check into recent releases of Studio which will prompt you to re-download your tools if Studio detects that your install is in this situation, so if you see a start-up prompt that your tools are missing, please allow this update process to complete before trying anything else. You will need 1.4.1567/EA402 or newer in order to get this prompt.
Under certain circumstances you may get the following error in the compiler window when you try to either Play, Debug or Compile a final exectuable using the YYC modules:
Unhandled Exception: System.ComponentModel.Win32Exception: The system cannot find the file specified
Alternatively you may find that your SCM solution, like SVN, does not work correctly. This happens because GameMaker: Studio is incorrectly licensed and has not downloaded the necessary files for a Pro or higher install. To resolve the issue, go to the Help menu and select the option Update Licence. This will download the required files, after which you will be required to close and re-start GameMaker: Studio. If all has gone correctly, you should now be able to compile using the YYC modules and your SVN problems should be fixed.
If you find that this has not fixed the issue, please go to your %localappdata%\GameMaker-Studio folder and delete the install.yyreciept file to force re-downloading of all modules again the next time you start Studio, as it may be that an update has either failed or not fully completed previously.