1) Sometimes this error indicates a problem with the ASUS ATK Package. You could try launching "Control Panel - Uninstall a program", right-clicking on ASUS ATK Package, and choosing "Repair" from the popup menu.
2) The update failure you experienced previously may be preventing the reinstallation, giving you this bogus error. I recommend trying to completely uninstall CinePlayer. Confirm all of its files are removed. You many even need to use a product like CCleaner to attempt to remove it from the registry. You may need to contact ROXIO for support in this endeavor.
Also confirm there are no MSIEXEC.EXE processes running in Task Manager. If you see one, end it. Place the CinePlayer installation files in a simple path (like C:\CinePlayer). Then reboot into Safe Mode and reattempt the installation.
I've found CinePlayer to be a somewhat buggy program. For a more robust Blu-Ray player, I recommend PowerDVD 11 Ultra.
G74SX-A1 - stock hardware - BIOS 202 - 2nd Monitor VISIO VF551XVT