it sounds to me like the .net framework and/or MSXML is corrupt, try the following:
locate the XML msi from the installation disk, if you have downloaded the installation package, download it from downloads.microsoft.com
Remove the XML installation, and reinstall using the file obtained in the previous step.
rename the directory %systemroot%\Microsoft.NET\Framework\v2.0.50727\ASP.NETWebAdminFiles to .old.
Run a Repair on the .net Framework 2.0 installation.
Run a repair on the Backup Exec installation.
Reboot