The problem lies in the way that you are providing.
You must specify the exact folder where the EasyPHP is installed.
Example: c: \ program files \ EasyPHP 5.3.0
When you are installing the Joomla Module it defaults to a directory which does not contain the EasyPHP directory. All you have to do is change the directory to the EasyPHP directory prior to installation by clicking on the browse button.