This bug is addressed in this thread:
I installed WinSCPPortable and PUTTYPortable via PortableAppsLauncher. Both of the apps work fine until I try to start Putty within WinSCP. The path to PuttyLauncher is correct in WinSCP and even when I try to start Putty via the PuttyLauncher directly no Putty shows up. Is there anything I had overlooked ?
Thanks for help