I solved this a few minutes after posting.
but for those who may get stuck with this error :
here is a quote from Erel from the forum that helped me :
Please try the following steps:
1. Make sure that you have a folder named c:\temp.
2. Run Basic4android with a shortcut or from the command line and add the argument: -log
It should create a file named c:\temp\log.txt.
When this error appears, close the IDE. The log should contain more information about this error.