I had the same problem, go into your second life 2 viewer and delete the file winmm.dll. Once I deleted it it worked fine. I found it on another post (I didnt just make it up).
I'm new to this game so I'm trying to figure this out, but once I login and go to play the game it says "login failed. unable to connect to a simulator". What does this mean? Does it have to do with my computer or maybe the games network?