Magic bullet error.

[xCampyWBWx]

I have final cut pro 5.1.4
I just got a DVX100B yesterday (which is amazing btw) and my friend who has the same camera just gave me magic bullet 2.0
After installing I get an error when I go to use any of the effects
it says "cannot find AE plugins"
do I need After Effects to run this program?
what am I doing wrong?

Thanks
Brent

 

[xCampyWBWx]

I have the "editors" edition and all I need is the Looks suite. I dont get why none of the effects work