I just realised by the look of the log text that you are using version 0.8.7.
The log is actually more complete in the recent experimental versions. It contains the inner exception text, which will be more precise than just "Configuration system failed to initialize" and that will greatly help understand the actual problem.
I should upload version 0.8.11 in a few hours, please try to install it and paste the error text again. Thanks and sorry for the inconvenience!
edit:
0.8.11 is available up here.