The procedure to install most modules is 

perl Makefile.PL
make
make test
make install

[download]

These or alternate instructions are usually present in the README file in the distribution. It's no exception here.

Note that if a compiler is required (as is the case for this distribution), it needs to be compatible with the one used to build Perl. Since the OP is using an ActiveState perl distribution, he'll need to use a compiler compatible with the one ActiveState used, namely Visual Studio 6. Note that Visual Studio's make tool is called nmake.

In reply to Re^4: "Lag" of modules in ActiveState ? by ikegami
in thread "Lag" of modules in ActiveState ? by journey

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