It appears that Picture It 99 is not compatible with Windows 8.1. The Microsoft Windows Compatibility page does show some Picture It versions that do work but sadly it looks like the one you have will not. Here is a link to the pages (there are 3 pages of results):

http://www.microsoft.com/en-us/windows/compatibility/CompatCenter/ProductViewerWithUpdatedFilters?TempOsid=Windows%208.1&Locale=en-us&Architecture=X64&TextSearch=picture%20it%209&Type=Both&CurrentPage=1&TotalPages=3&ShowCriteria=0&SortCriteria=Relevance&Compatibility=Unknown&ProductName=picture%20it%209&LastRequested=5