Trouble installing Dyknow on Windows 8.

EDIT: Thanks guys, I got it figured out now (see instructions below if you have similar problems)

I recently did a clean install of windows 8. When I tried installing Dyknow from the network.software site, I got an error saying I need something like ".NET Micro Framework 3.1 SDK or higher is required for installation." Well, I tried installing the latest .NET version, and got the same error.

Anyone else have this problem, or know how to fix it?