I see, it needs to reference a DSP module dumped from one of my gamecards.
That thread seems to lack any download links however, the mirror website does not have the DSP Dumper.
I actually did try hblauncher_loader on my system, but it didn't work.
This is probably because I have to use a frankenfirmware to get online, I'm using a New 3DS with emunand 9.5 firmware.
I had to install newer Nver system titles and use Free Multi Patcher so I can continue to go online.
So what's probably happening is the launcher is mistakenly downloading the incorrect payload to launch.
If I had to guess I'll need to get the exact N3DS 9.5 EU payload and load it onto my SD card somewhere?
Maybe look a little harder?
http://adf.ly/1R6WVn
^download link for DSP dumper.