I am experiencing the exact problem mentioned here http://req.thevirtualbrain.org/secure/attachment/11882/CommentsOnTVB_1.4_Windows7_64_PSL_20150725.txt here
that occurs through the web interface on http://127.0.0.1:8080/settings/settings, and which does not seem to have been addressed. I have verified the matlab path listed is correct and I of course have a working copy on this machine. When I try to advance past this page, an error pops up saying "No valid matlab installation was found at the path you provided." and when I click validate, ironically a matlab window pops up saying "Undefined function or variable 'test_mat_version". This error prevents me from progressing at all to open TVB.