Oops, I forgot to mention that part - I did not use the installer, I updated the Driver directly from the Device Manager.
Here's a Play-by-Play.
PCR in Windows 8 Device Manager:
Open Properties of the PCR device, choose Update Driver...
Choose Browse my computer for driver software
Choose "Let me pick from a list of device drivers on my computer"
Simply choose Next here
Choose Have Disk ... you do not need to wait for the list to populate
Browse into the extracted zip archive directory as shown below and choose the RDIF1102 file. The driver zip archive contains drivers for both 32 bit and 64 bit, browse into the folder that matches your version of Windows 8. In my case, I chose the 64 bit version.
Choose Ok
Choose A-PRO from the list, then choose Next
Confirm the Update Driver Warning with Yes
Enjoy the great feeling of beating planned obsolescence and giving your PCR a new lease of life: