At this point I would start trying different versions of the software involved to see if it is some obscure bug that was recently introduced or fixed. For example, I might:

1. Make sure I have the latest Win32::API. If not, use PPM to install the latest version. You can also check search.cpan.org to see if there is an bug report, or a note in the change log describing your problem. There may also be something in the Win32::API documentation (Note: I am not implying the Win32::API is the cause of the problem, but it can hurt to look).
2. Are there other versions of your DLL you can try?
3. Try a different version of ActivateState perl. I have had good success installing different versions of ActivateState Perl side by side on Win2K Systems. Just keep an eye on your PATH.

It may seem extream to try different versions of your software, especially Perl. But, it seems like there is little information pointing to the exact cause of the error. By trying some of these points above, you might find a combination that works. I know, I don't like poking at a problem with a stick, but there isn't much to go on here. :-)

Your error message said that a log file was generated. Any info in there?

Ted

Disclamer: I am quite braindead at times and so cannot be held responsible for damage caused by following my advice. That, I am a lowsy speler.