Why did you use a System restore after uninstalling the AV/installing a new version?
When you use System restore, not all the files on the system are restored, although the registry entries that pointed to those files are.
So you have a registry that thinks Avast 4.8 is installed, but no Avast 4.8 files on the system, because you removed them.
What do you want to achieve? We can talk you through that. A full uninstall/reinstall using the cleaning tool is likely to be one of the steps required.
Are there any other problems with your computer (using system restore suggest there are.)