Mac OS X:
10.7.2, 10.8, 10.9
Mac Intel / 4GB of RAM / 30MB of Hard Drive Space
Windows 7 (64-bit), Windows 8 (64-bit)
Pentium 4 2.4 GHz or faster (or AMD equivalent) / 4GB of RAM / 30MB of Hard Drive space
Adobe Premiere CS5, CS5.5, CS6, CC, CC 2014
Adobe After Effects CS5, CS5.5, CS6, CC, CC 2014
Apple Final Cut Pro 7, FCP X, Motion 5
Sony Vegas Pro 12, 13
Avid Media Composer 6.0, 6.5, 7.0
Since Magic Bullet Looks 2 is no longer updated/maintained, if it's running a host or operating system outside of these specifications, the program will not be guaranteed to work as it's technically in an unsupported environment.
See the compatibility page for the latest version of Looks to see what its upgraded version will work with.