Hello Lorenzo,
These are the first three things that come to my mind…
Make sure FxSound is set as the Default Communication Device:
Try changing the Communications setting for your device(s):
Or, if you are absolutely certain that the previous version did not cause this error, and you can live without the updates (outlined in the ChangeLog), then you could simply uninstall v1.1.20.0 from Control Panel, and reinstall v1.1.19.0, which is available on VideoHelp:
Other relevant suggestions from my standard troubleshooting list (bannered to the top of the forum) are points 5, 6, 11, 14, 15, 16, and 18:
Please post back and let me know if this advice was helpful or not.