It seems to me that (caused by whatever reason) BSPlayer.exe was installed inside a folder also named BSPlayer.exe on your PC.
(Did you change default path during installation, or perhaps used zipped version?)
I wouldn't be surprised at all, if the "destination" in the desktop shortcut which you created has meanwhile been changed (by Windows)
from: C:\Program Files\Webteh\BSPlayer\bsplayer.exe /bsplayer.exe
into: C:\Program Files\Webteh\BSPlayer\bsplayer.exe\bsplayer.exe