Hi Warrior, what your seeing is a standard error message sent to Winmx.com to tell them what the problem is and allow them to fix it in a future release.
The file that generates this error message is called errcatch.exe and sits in your winmx folder in program files.
Ok boring bit over, now down to what it may mean, the only info that we can work out from the above message is that your running version 3.53.
What I suggest you do is run sfc/scannow
from the command prompt Start - Programs - Accessories - Command Prompt
This will check the system files that WinMX relies on, are good.
If all is ok there you may wish to move on to the newer Beta version of WinMX that has a few bugs ironed out of it, just pop the new winmx.exe in the same folder as the old one. http://dld91.winmx.com/45654935842241/winmx354beta4.zip
I hope that helps restore normal operations