You need to delete your local Xibo configuration file (from your user profile directory), uninstall Xibo, download a fresh copy of the 1.7.8 Player, and then install that. Then configure Xibo again to talk to your CMS.
I have done all this and does not work,
including wiped regedit
Moving my post because after installing the updated 1.7.8 installer, I found out that the main problem was not the player.