Seems like you got most of the answer but running as administrator will solve this. Ideally, though, you want your applications to write to _user_ areas, not the program files or system areas of the machine. Update or setup works in the file because that's an automatic flag for the system to prompt for elevation.

UAC will redirect reads/writes to per-user areas when the application _thinks_ it's writing to a system area. So if you dig enough into the user's store, you'll find the files in there. This is done for compatibility reasons: Old software will continue to run without the possibility of stepping on other users' data.