Run both of the redistributables in this order listed:
Download Microsoft Visual C++ 2008 Redistributable Package (x86) from Official Microsoft Download Center
Download Microsoft Visual C++ 2008 SP1 Redistributable Package (x86) from Official Microsoft Download Center
This "should" fix the side by side error. Windows will force the use of the newer one, even if the app did a failed point to a no longer listed one.
The info you were steered towards regarding Visual studio, is info for the app developers and the compiling/distribution of their app.