Shouldn't the initial placement of iMacros.Component.dll and all its dependent assemblies be in the root project folder, with the CopyLocal property = Always. With this configuration, the assemblies will be copied into the proper bin/configuration folder based on the setting of the Build Configuration.4. Copy also the other dlls from the iMacrosComponent\Bin folder to your project's bin\configuration folder. There are 10 dlls altogether. They are necessary during runtime.
I followed the original installation instructions and my project builds are resulting in repeating subdirectories like the following: