Thanks to the error message tonyis3l33t posted I understand why the first version fails on so many people's machines. For some reason I fail to understand, my AssetsLib.vpl file stores
relative paths to the VPK files, while most of the VPL files out there store
absolute paths. As I only had access to my AssetsLib file I never thought this would happen.
I have updated the tool to handle both cases:
http://eq2.blazlabs.com/Eq2VpkTool-1.1.zip
This version should be a little more bug-free
Hope it is finally usable.