When compiling your excel file, is your xls(m) file linked to other workbooks or data sources?
If using a install/setup program (like Paquet Builder) to bundle your compiled (.exe) excel workbook, are you adding any companion files, .dll’s, etc.?
Use the process of elimination.
Compile your excel workbook using XLS Padlock into the .exe file
Run the .exe file from your computer and if possible another local computer and, if using an activation key enter the key. Make sure your parameters are correct when generating a Application Master Key and activation keys. When using activation keys, each compiled workbook uses only the activation keys entered at compilation (Activation Keys" settings in XLS Padlock.
What results did you get? Did you get similar errors? If you receive similar errors and are not adding any companion or linked files to the compile excel workbook, I would begin testing the integrity of the .xls(m) workbook by first using excel’ s "repair a corrupted “workbook” option to test the workbook.
If you did not receive any errors and are packaging your protected workbook with a program like Paquet Builder, bundle the protected workbook (.exe) with the packaging software then run the setup/install program from your computer to see if any errors are obvious. If so, something in the packaging program may be trying to link to other programs/dll’s.
When compiling your xls(m) workbook using XLS Padlock make sure your excel versions are correct in the Application Setting of XLS Padlock. If using a local AV program, disable the AV program and try again.