I know this isn't an answer to the question itself, but stackoverflow won't let me comment on others' answers yet, and I wanted this information in here because it will be useful to people who may have found this post like I did, searching for this error.
The reason the BCL is throwing a Security Exception instead of a UnauthorizedAccessException is because what the non-admin security level is insufficient for is writing to the Application Event log, not for the installation in general.
And sorry this won't help you with your problem, Sherif, as there are clearly other issues when you're installing it even as Admin. I recommend trying Nicole's follow-up suggestion to contact the tool's provider.