HP connection manager is not really an essential program to make your wireless items work (In other words, you could still do everything it does without it).
From what I read it requires .NET 3.5 installed so you might make sure you have that. It also requires "HP framework".
See Daniel_Potyrala's answer
HERE on the HP Support Forums. Unfortunately the second link he offers does not work so you may need to search for the HP Software framework.
Since this is strictly an HP issue I recommend you try the HP forums or contact HP support if you still have questions on this particular software.