I just finished downloading the trial version of nu sphere phpED and when i follow the directions to create a new project using the wizard when it gets to the screen shot where it says checking php installation i'm getting an error (-132) webserver failed page http://localhost/dbg-wizard.php? version. and error code HTTP/1.1 404 not found. .. for the document root I'm inputting C:\wamp\bin\apache\Apache2.2.11 and again for the root directory and for the url i'm using http://localhost/ . any help is appreciated.

I think this is the mistake tha caused 404 errors.
In case of Apache service, Dbg-Wizard is able to determine document root for the service without your help. Try to leave the default value it suggested in Document Root input. Probably it suggested something like C:\wamp\htdocs and that's the root for the document.

I'm having the same sort of issue...

If I click the link that it shows me it opens in my browser, but the wizard claims this:

"Error: (-132) web server failed, page http://192.168.20.149/DEV/CompanyName/ProjectName/NameOfSite/dbg-wizard.php?version not found: HTTP/1.1 404 Not Found"

I'm running xampp with Apache 2.2.

That link works... It works and links to the file and when it opens it prints "version=2.1.2116" in my browser. The file does exist.

<edit>
I have edited this post to mention that, once it has failed to find the file and I close the wizard, it removes the file! But it was definitely there when it ran the test...
</edit>

just copy the needed file in "C:\Program Files\NuSphere\PhpED\dbgwizard" to the wamp\www\
before creating the project