Meanwhile back on the UFT message board, IMOCX.OCX should be in the Windows/System folder. A quick read of the 73K file does not indicate that it was written by Microsoft. Is it a Windows program?? Third Party??
In any event, make sure that you have the OCX file by doing a search in Windows Explorer. Then if you get the World Photo Studio to work with UFT 3.1, count your blessings and work with that version. There is not much reason to use UFT 2.9 these days if you have the UFT 3.1 patch installed.