There's not much info available but an indication of permission issue.

Try running Armory as Administrator.
By Either:

• A. Right-click 'ArmoryQt.exe' and select "Run as administrator". (has to be done every time you open Armory)
  or
  
• B. Right-click 'ArmoryQt.exe' and select "Properties", Under 'Compatibility', find "Run this program as administrator" and save. (permanent)

If it didn't work, try to install Armory somewhere else and not in Program Files.

Traceback (most recent call last):
  File "ArmoryQt.py", line 42, in <module>
  File "armoryengine\ALL.pyc", line 8, in <module>
  File "armoryengine\ArmoryUtils.pyc", line 262, in <module>
  File "encodings\utf_8.pyc", line 16, in decode
UnicodeDecodeError: 'utf8' codec can't decode byte 0xe4 in position 10: invalid continuation byte

There was letter "ä" on my windows user name.
Solved.