Being a "Pennsylvania Dutchman", from Mechanicsburg, and hard headed I kept digging until I found the fix. 
 

fireberd
FIXED! 
 
I had tried this, or something similar, before from a link I found doing a google search but it didn't work.
 
I found this on the Windows 7 forum, on a link that people with Adobe Photoshop were having the exact same problem with the "MSVCR110.DLL"  error and program not starting.  One of the posted responses with a link (shown below) was the fix.  I tried it with Sonar X3 and Windows 8.1 and it fixed it.  However, MSVCR110.DLL was already in the correct Windows folders, but apparently was corrupted. 
 
Here was the posted fix:
 
"GOTO:
Download Visual C++ Redistributable for Visual Studio 2012 Update 3 from Official Microsoft Download Center

I updated with the "VSU3\vcredist_x64.exe" file.
Shut down / Restart / CS6 loaded with the Nik plugin intact and no errors.

MSVCP110.dll is now in my C:\Windows\System32 folder."
 

Yep, and I only pointed you there 2 days ago on Post #11.
I guess you probably didn't read my post, or read the details on that page ?
 
Well, at least you got there eventually, even if it was 2 days late.

There have been some redistributables that have been problematic. It happened with Sonar 8 or 8.5 I think it was. I can't remember the fix at the time but I remember Noël talking about. Like on this occasion not everyone was effected.
What was the link you used to get the correct files.

I tried the link that was posted here and it came back with a message that a later version was installed and aborted?????
 
EDIT: I went back and retraced some of my steps and it looks like I tried the update link here, after I had tried several other things and before I did a hard drive backup restore.  If I had done that update before I did some other things it probably would have worked.

This was a Windows 8.1 problem, not a Windows 7 problem.  And, as noted it worked OK in Windows 8 before the 8.1 upgrade.

Windows 8.1 is no longer a "beta" release.  It is now a full upgrade and new PC's come with Windows 8.1 installed.  If you buy a new copy of Windows 8, it will be Windows 8.1.   
 
My "production" system is X3 on Windows 7 64 bit.  I originally installed X3 on Windows 8 to see how it would run (it worked OK), on my dual boot (separate drives) Win 7/Win 8.  The Windows 8.1 upgrade caused the problem, for some, not all. 
 
I also needed it to work as my backup PC is Windows 8.1 and Sonar X2 (c or d I don't remember - whatever the last update was).  It had the exact same problem and the exact same fix.

"My "production" system is X3 on Windows 7 64 bit."So is mine.
Musicroom, I'm glad 8.1 is working for you;
I'm gonna wait till the bugs are worked out...
 
T

Since I got X3c 64 bit working on Win 8.1, I've done some recording, adding VST's and it all works, for me, exactly like X3c/Windows 7 64 bit.
All my hardware works with 8.1, including my old trusty Frontier Tranzport unit, that i had to install (in Windows 8) in a Vista compatibility mode, The Behringer BCF2000 is plug and play in Windows 8/8.1.  The MAudio Fastrack Ultra 8R did not require a new driver.  The only driver update I had to do was for the Roland Octa-Capture, with the new 1.52 driver that was issued for Windows 8.1. 
 
There is a discussion on the Windows 8 forum about PC hardware support in 8.1.  It looks like some older hardware that was Windows 8 compatible is no longer 8.1 compatible.  But these are older motherboards or PC's that were developed in the XP or early Vista era. 
 
 
 
 

I had the exact same error.
You need the VB update as previously noted.  That fixed mine, and others with that problem.

This is the update that's needed.
 
http://www.microsoft.com/en-us/download/details.aspx?id=30679