Yep. I had the same error as GovGaming and milkmycow, it seems to not include any way to reach the next step after "Insert Hack Phrases" if you've already had HTL installed once before and are reinstalling it after upgrading VB [like I am now from 3.0.0 to 3.0.1]. Luckily for me, I'm doing a sort of psuedo clean install, so I can afford to drop my current language, phrase and phrasetype tables and insert the original ones - which did the trick for me.
Though, for future upgrades a fix would be nice.