After update from Windows 7 to Windows 8 and re-installation of Virtual CD v10.5 there are no virual drives as the the driver cannot be installed.
In the device manager the H+H Virtual CD 10 SCSI Controller is marked with a yellow exclamation mark.
This is because after an update from Windows 7 the installation files for the driver are missing for any reason. You can install the driver manually as follows:
After a successful installation the virtual drives are available again.