You say you "put visual hub on a CD". Can you explain what you mean by that? Did you put the installer
on a CD, or did you just copy "Visual Hub" from your Applications folder onto a CD?
You have to install Visual Hub using its installer; you can't just copy the application. It relies on other things that get installed by the installer (namely, ffmpeg and other components).
If you want to run Visual Hub on Lion, you have to first install it with the installer, then update the ffmpeg tools from here:http://www.techspansion.com/
The version that installs with Visual Hub won't work in Lion.
Also, ffmpeg is no longer being supported, so it likely will not work with new operating systems as Apple releases them. You can read more here: