I'm afraid that correctly understand you,
but if you bought Console edition, you can find nrobfuscator.exe in the \bin folder (usually "C:\Program Files\9Rays.Net\Spices\Bin\" folder).
Or - may be nrobfuscator incorrectly works with license file?
Probably you've installed some of the .Net 2.0 betas installed, in this case please remove following line from the nrobfuscator.exe.config file:
to run nrobfuscator.exe in the .Net 1.1 runtime.