I can replicate this issue by doing the following:
1. Download http://download.videolan.org/pub/videolan/vlc/2.1.0/win32/vlc-2.1.0-win32.exe and install it.
2. Click Help, Check for Updates and follow the prompts in order to download and launch the installer of the new version.
3. Click "Upgrade VLC using previous settings (recommended)".
Customer support service by UserEcho