scottcar,
It is most likely a bad install, we don’t hide anything during the demo, and only nag after the demo runs out. This sounds very similar to problems people have had when installing MyEclipse onto a Eclipse JDT install, and not the Eclipse SDK install. Did you download the entire Eclipse SDK when you installed MyEclipse?
Also when you unzip Eclipse, you need to run it atleast once (to finish the install) and close it before installing/running MyEclipse. You can also erase the <workbench>\.metadata\.config directory and let Eclipse/MyEclipse recreate it to make sure your install is clean.