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The last release of WOL was before Windows 8 was released. We have done some initial testing and WOL appeared to work okay on Windows 8 but it has not been through a full QA process yet.
You may need to go to Control Panel -> Programs -> Turn Windows Features On/Off and check .NET 3.5. That should include .2 and .3.
Thanks steve, I had forgotten about 'Turn Windows Feature On' for .net 3.5 and others.