Copy everything off the disk to a directory on HD and put the arp.library in your libs: directory then start the program and it should be ok.
BTW I have a question for the board:
Anybody knows a way to use the technosound II software on an 1260 without crashing (other than disabling the board of course)OR is there another program that can use the technosound II hardware? Maybe protracker that another user mentioned or something else? Samplitude Opus crashes as well when trying to sample from parallel port. Any help appreciated!