I think that's exactly what's going on.
We think we've fixed the issue and will release 3.4.1 shortly. If you want to try it out and let us know if it works that would help us out:
http://static.garmin.com/desktop-chandler/virbedit/installers/Virb_3.4.1.0.exe
To test another theory, don't try to export after launching VIRB Edit from the installer. Finish the installation, and then launch VIRB Edit separately. Try export then.
This build also fixes the date not being localized issue.