Here is info from the manual:
4.0    INSTALLING LAZYTURN
4.1   LazyTurn  ( LT ) currently can be run independently via hard drive, USB stick
     etc as it’s installation can stand alone.
4.2   When installing Mach3 you are asked if you also want to install LazyCam.
The current lockdown version of Mach3 installs LazyCam 3.00.2. If you are using an older version of Mach3 you may need to install the LazyCam 3.00.2 Update. Both versions can be downloaded from 
the ArtSoft site. Here is the link:                   
http://www.machsupport.com/downloads.php                  4.3   You can either update LazyCam 3.00.2 by installing the update or create another directory for a stand alone installation, but both versions must be installed for LazyTurn to work. 
                "LazyCam 3.00.2 Update" is a special build that includes additional  required
                 files.
4.4   Now you will need to update the LazyTurn REL 1.1 application file to the most recent version posted. As of  3/14/2010, The latest application file posted is: Re:LazyTurn thread, reply #1349, page 135
                   Download and unzip the above file and copy the LazyTurn application
                  file into the directory you installed Lazycam.  You will replace the existing
                  file that is there.
     Once installed, you can play with LazyTurn by running lazyturn.exe in the
     resultant folder.
RICH