You may not be able to run your new version of Vlingo if you chose SAVE instead or RUN when downloading Vlingo. In this case, the download did not complete. You have two options to complete the installation:
Go to Start ->Applications -> File Explorer and find the Vlingo file you saved. Click on it and continue the installation.
Go back to Vlingo Menu -> Check for Updates and follow the flow again making sure you choose RUN each time during the download process.