Thanks guys! I am still having trouble accessing the forums for some strange reason, however a dear friend of mine went in and got the important bits of info for me.
Basically here are the two possible solutions:

 

Open "Render Options"
Under "Render Destination" click on "Render to disk"

 

Click on "Options"

 

Under "Save color picture", check to see if it has a double in the path. eg:  C:UsersNamePicturese-on softwareVue 7 xStreamUntitled.bmp

 

Just to show I put an extra after the name

If it does eliminate a   so there's a single one.
Click OK

The other solution mentioned is:

• Go to the Vue 7 x folder
• Go to the Environment subfolder
• Find the Default.cfg file
• Rename it as Default.cfg_ (or eventually delete or move it)
• Restart Vue 7

I notice that the first option is for rendering straight to disk. My problem occured during 'render to screen' I like to do that so I can immediatley see anything that needs changing but then couldn't use the 'save' icon... I will test out the save to disc path and get back to you on it.
Thanks to everyone for their help!