On some systems, users may receive a message stating "You are missing components necessary to open Casio and Youtube files" with a prompt to install a 'codec pack'.
 This message appears whenever V1 detects that your system does not have a decoder ("codec") installed that can handle playback of these file types. If your system does not have a compatible decoder installed, V1 will not be able to open these types of videos.
 To correct this problem, say "yes" on that window to install the K-Lite Codec Pack.
 During the Codec Pack setup, do not change any of the default settings. Continue pressing NEXT until the installation process is completed.
 When installation is complete, you will be returned to the V1 software. Restarting your PC is not necessary.
 If your system will not open .MOV files (eg. from a Casio EX-F1) or Youtube downloads even after installing the K-Lite Codec Pack, please refer to the Knowledgebase article below for additional troubleshooting steps. If you have Windows 7, there is an additional step which is necessary before V1 can open your videos which is outlined in the knowledgebase article below.

See article below for more detail:
Enable Playback & Troubleshoot (Pro Windows)

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