Hi Chris,
the panel problem maybe caused because there is not any PANEL folder contained within the download. It can be a bug, but I thought if you install a new panel, it will build up the PANEL folder. If not, first make a PANEL folder under the EHM747 installation, and install the desired panel only after that.
Maybe there is a similar bug with the sound folder. It may point to a folder that is not exist. By default, the installation points to the default 747 sound folder. If you do not have that, you will not hear any sounds.
Good luck mate !