I'm having same problem. I'm using MusicBee as music manager/player on Windows 10 and it has context menu support for external tools. I'm using some tools like spec, spectro, lossless audio checker from context menu but Fakin The Funk executes without loading the file.
I got an error when trying to install it after the newer version (even though I uninstalled that one), but once I uninstalled with Geek Uninstaller to clear the remnants, this version works fine. It accepts the license code.