Hi all,
I have fixed the issue. Please find the attached modified demo zip. Please refer to LabVIEW Help to understand the root cause of this issue.
LabVIEW Help -> Fundamentals -> Working with Projects -> Concepts -> Using Source Control in LabVIEW -> Facilitating Source Control by Separating Compiled Code from VIs and Other File Types.
Now to fix the issue All did is removed the check box as shown in the image below (and saved the VI) in the VI lib and copied the files next to the exe.