Well, you downloaded the 2008 SP1 redistributable installer - hopefully not updated by the latest "security update". The same installer is actually contained inside of the avast! installation package.
Now, you have to install it somehow.
Since installing it in the usual way will most likely fail (because you already have a newer version installed - as you said, it falls back to "Repair", and I'd say it doesn't actually change anything because it finds a newer version).
So I'd say - try to uninstall the redistributable, if possible (not the update, the whole redistributable) - and then try to install (the previous version) from scratch.
If not possible to uninstall it... well, it might be possible to remove/rename some files, such as mfc90.dll, manually... but there's chance of breaking things there.