If you see the following web page, in preference to the PanelDaemon login screen, it might indicate that the ASP.NET runtime has not been installed correctly:

To resolve this simply go to a command prompt and change directory to C:\Windows\Microsoft.NET\Framework\v2.0.50727 and type the following: aspnet_regiis -i. Then repoint your browser at http://localhost/PanelDaemon_v1.5 and you now should see the PanelDaemon login screen.