Does the error message cite this EXACT file path: C:\Program Files (x86)\jv16 PowerTools 2013/Backups?
I say EXACT because notice that before the word 'Backups', there is a forward slash instead of a back slash. That must be a back slash for the command to work. You would, indeed, receive an error message like the one you describe if that character is a forward slash.
Start the program, go to Settings, Installation. What does it say in the 'Backups directory' field? It should say '\Backups\'. It's possible that you accidentally changed the leading back slash to a forward slash somewhere along the way.